A leader from Saint Augustine’s University says he has rejected an effort to merge the financially challenged school.
Some community leaders recently urged Saint Augustine’s to save itself by combining with Shaw University.
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Shaw is another historically Black school.
Saint Augustine’s Board of Trustees Chairman Brian Boulware says he was urged in a recent meeting to combine the campuses. The idea was presented at a dinner that included local developer Smedes York, former News and Observer publisher Orage Quarles and Capitol Broadcasting’s CEO Jim Goodmon. Leaders from Shaw University were also present for the meeting.
In a letter rejecting the merger, the Saint Augustine’s board chair said he will soon announce a short-term financial solution to stabilize Saint Augustine’s while they work on a long-term plan. Sources tell WRAL News the school is working on a multi-million dollar bridge loan to hold them over while they explore selling some of their property to raise money.