Saint Augustine’s University, a historically Black college, has filed for Chapter 11 bankruptcy protection, according to Bloomberg. Founded in 1867, Saint Augustine’s is one of the oldest historically Black colleges in the US, but has faced financial struggles in recent years. Earlier this month, the board of directors at the Raleigh, North Carolina-based school voted unanimously in favor of initiating the bankruptcy process, as per a resolution included with court documents. On Monday, the college listed liabilities of $50 million to $100 million and assets of $100 million to $500
Chris Gray, founder of the Black-owned scholarship app Scholly, is suing its acquirer, Sallie Mae, alleging that it sold data collected on the app, as reported by TechCrunch. Scholly, which allows Black students to easily search for scholarships, was acquired by Saille Mae in 2023. However, Gray is now alleging that his acquirer sold data his app collected, including information on minors, without telling users. He is also suing the company for wrongful termination. Chris Gray’s lawsuit against Sallie Mae In the lawsuit, Gray alleges that Sallie Mae fired his
Morehouse College, a historically Black college and university, has received a $5 million grant from the National Science Foundation (NSF) to build a supercomputer. The Morehouse Center for Broadening Participation in Computing has received the initial $5 million grant from the National Science Foundation to start building the supercomputer Horizon. Further capital will be donated to support similar initiatives. The grant is part of a wider $457 million project to build one of the most powerful academic supercomputers in the southeast. The college will become a national hub by introducing
Two recent Stanford graduates have raised $2 million to launch Breakthrough Ventures, a hybrid accelerator for college student and recent graduate founders across the US, according to TechCrunch. The program mirrors how top universities often turn class projects into venture-scale companies by packaging funding, infrastructure, and investor exposure into a single pathway. While Breakthrough recruits founders nationally, much of its deal flow and decision-making remains anchored in Stanford-connected spaces, a dynamic that shapes who sets early company terms and captures ownership at the earliest stages. Funding, Infrastructure, and Formation Rolled
Former NFL quarterback Colin Kaepernick is bringing his education technology startup, Lumi, into K–12 classrooms through a new partnership with Metro Nashville Public Schools (MNPS). The collaboration launches a phased district pilot that introduces students to AI-powered storytelling tools designed to support literacy, creativity, and responsible technology use. Kaepernick’s AI Storytelling Platform Founded by Kaepernick in 2024, Lumi Story AI emerged from stealth with $4 million in seed funding led by Alexis Ohanian’s venture firm, Seven Seven Six. The platform is built to position AI as a creative assistant, helping
A 13-year-old boy in the UK is paying his own boarding school fees using profits from his Caribbean food business, a venture he started at just six years old. Malaki Conteh now covers the portion of his school fees not covered by financial aid at The Prebendal School in southern England, where he attends as a full-time boarder. Tuition runs about £4,000 ($5,384) per semester, with Conteh paying the remaining balance after receiving a 50% scholarship, My London reports. Turning a Family Kitchen Into a Business Conteh runs Malaki’s Food
Martin University, Indiana’s only historically Black university, will close permanently after its Board of Trustees voted to cease operations, citing unsustainable finances. The shutdown shows how access-oriented colleges without endowments become structurally dependent on volatile public funding, philanthropy, and enrollment volume. When any one of those inputs weakens, accreditation and creditor obligations can force liquidation, shifting educational infrastructure toward larger institutions with stronger balance sheets. Endowment scarcity turns budget shocks into existential threats. According to The EDU Ledger, Martin’s trustees concluded that the school’s long-standing financial model could not support
Howard University will launch an “Intro to Artificial Intelligence” course in spring 2026, partnering with CodePath and with financial support from the Thurgood Marshall College Fund, according to a press release shared with AfroTech. Howard faculty and CodePath’s faculty network will jointly teach instruction spanning data structures, AI literacy, and agentic workflows, the release said. The program positions applied AI-assisted software development inside a core academic setting rather than treating it as an extracurricular credential. “Our work is rooted in the idea that HBCUs are not only equipping students for
Cactus Jack Foundation, a non-profit founded by rapper Travis Scott, has launched a new initative for students with Space Center Houston. As reported by Complex, the program will allow Houston Independent School District students to engage in a science, technology, engineering, and mathematics (STEM)-enriched curriculum. Cactus Jack Foundation’s new initative The program will teach students the necessary skills to pursue careers in engineering, design, and exploration. Students will analyze real-world challenges such as water scarcity, space habitation, and power generation and discuss solutions through virtual and in-person workshops at Cact.Us Design
Peter Iwuh, founder of Tykoon Sports Agency, the first Black-owned NIL marketing firm, has launched Tykoon AI, AfroTech reports. The new platform, created with Co-founder and Chief Technical Officer Omogbolade Ajayi and Chief Growth Officer Alexander Turner is designed to help underrepresented athletes at HBCUs, smaller schools and lesser-known conferences take advantage of name, image and likeness (NIL) opportunities. What is Tykoon AI? Tykoon AI is an all-in-one platform that enables students to connect with local businesses through its interactive merchant map. The app allows athletes to choose their school,
