Saint Augustine’s University filed for Chapter 11 bankruptcy protection in North Carolina as the school seeks a financial restructuring while addressing accreditation-related constraints. The university’s governing board said the filing is intended to provide a “stronger foundation,” and it announced a presidential transition alongside plans to drop its lawsuit against its accreditor. Saint Augustine’s signaled it will move forward without accreditation “in the near term,” offering teach-out options for current students and planning nondegree certificates and apprenticeship programs while pursuing a path toward reaccreditation. The university also said Chapter 11 is supported by its primary lender, Self-Help Ventures Fund, which has been associated with earlier debt-relief efforts. The bankruptcy filing has immediate eligibility implications: bankruptcy can cut off access to federal student aid, which is often a financial death knell for colleges. The institution’s announcement did not include detailed teach-out timelines or how it will operate without federal aid eligibility in the interim. The case highlights how accreditation and financial distress can converge quickly, leaving students and faculty facing uncertainty and forcing rapid contingency planning.