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An arbitration committee restored Saint Augustine’s University’s accreditation on Monday, reversing an earlier decision by its accreditor, the Southern Association of Colleges and Schools Commission on Colleges—a development that the university called “a triumph.”

“The SACSCOC arbitration committee’s decision serves as a pivotal moment for SAU’s redemption and renewal,” Brian Boulware, chairman of the university’s Board of Trustees, wrote in a statement. “The unanimous reversal by the arbitration committee rightfully corrects the injustice inflicted upon SAU by SACSCOC’s initial ruling and underscores the university’s steadfast commitment to excellence and growth.”

The private, historically Black college in Raleigh, N.C., has been on a roller-coaster ride with its accreditor as it contends with a challenging financial outlook and high leadership turnover. In December SACSCOC stripped the university’s accreditation, one week after the college was hit with a $7.9 million tax lien. SAU then lost a subsequent appeal in February, a decision that seemed to spell doom for the college; one month later, Saint Augustine’s asked students to leave campus and moved all classes online.  Last month the college shot down proposals for a merger with Shaw University, a neighboring Raleigh HBCU with financial issues of its own. 

SAU is now on probation with SACSCOC. The university’s statement said it would welcome students back for classes in the fall, though officials did not specify whether those classes would be in person. They also said that the reinstatement of accreditation was an important step on the university’s “path toward recovery” and “mission to rejuvenate its reputation and dispel doubts about its longevity.”