Saint Augustine’s University in North Carolina filed for Chapter 11 after accreditation-related financial and compliance problems accelerated into a restructuring pivot. The university’s governing board said the filing is intended to stabilize operations, begin a presidential transition, and move forward while it works toward a pathway toward reaccreditation. The filing is a major development for student aid and continuity because bankruptcy can eliminate eligibility for federal financial aid. Saint Augustine’s said it would provide teach-out options and explore nondegree certificates and apprenticeship programs as students plan next steps. The university also indicated it would drop its lawsuit against its accreditor after it previously secured a temporary block on the withdrawal decision. The Chapter 11 move follows emergency board actions in April and a deal framework involving its primary lender, Self-Help Ventures Fund.