The Board of Trustees of Saint Augustine’s University agreed to unsurvivable predatory loan that is not a lifeline-it could lead to the destruction of the HBCU.
Martin Eakes, CEO of the Self-Help Credit Union tried to save St. Augustine’s University from the predatory 26% loan—offering $20 million to keep the historic Black institution alive. The board said no.
What’s really going on here? Is the board trying to save the university?
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