Self-Help Ventures offered to assume at least $7 million of Saint Augustine’s University debt and to consider up to $20 million in additional financing, but conditioned the relief on removal of two trustees, WRAL reported. The lender identified former board chairs Brian Boulware and James Perry as obstacles and sought their ouster as part of the deal; board leadership signaled support amid intense criticism of governance as SAU teetered on the brink of closure. The episode underscores how creditors and potential funders are now exerting direct influence on trustee composition and institutional survival at cash‑strapped private colleges.