Martin University’s Closure Leaves Former Students Fighting To Finish Degrees
The Indianapolis university's closure disrupted degree programs, eliminated jobs, and left many searching for financial and academic stability.
More than six months after Martin University permanently closed on Dec. 31, 2025, former students and employees say they are still working to recover from the collapse of Indiana’s only predominantly Black institution of higher education. The closure of the Indianapolis university disrupted degree programs, eliminated jobs, and left many searching for financial and academic stability, according to The Indianapolis Star.
Martin University’s Board of Trustees voted to cease operations after determining the institution could no longer overcome years of financial challenges, declining enrollment, and mounting debt. The university announced the decision in late 2025, saying it lacked the resources necessary to continue serving students. According to the board, officials began coordinating teach-out agreements with other colleges while preparing to wind down operations and liquidate assets to address outstanding obligations.
Former students told the outlet that the closure forced them to reconsider graduation plans as they attempted to transfer credits and secure financial aid through new institutions. Several said the unexpected shutdown created additional financial burdens and delayed their educational goals.
“I’ve just been trying to survive,” one former employee told the newspaper while describing the months following the university’s closure.
Another former student said the experience left them feeling as though they had to “start over” after investing years toward earning a degree.
Founded in 1977, Martin University was created to expand access to higher education for adult learners, low-income students, and historically underserved communities in Indianapolis. Federal education data show enrollment declined from nearly 1,000 students in 2010 to about 223 students by 2023, reflecting years of shrinking attendance that contributed to the institution’s financial struggles.
In its closure announcement, the university’s trustees pledged to assist students through the transition.
“Our work now is to ensure that Martin’s legacy of access, faith, resilience, and opportunity does not disappear,” the board said.
“We will wind down operations with dignity, transparency, and compassion. We will continue to advocate for the educational future of our students.”
Former students continue to transfer to partner institutions while university leaders oversee the remaining closure process and resolution of the school’s financial obligations.
ON THIS DAY: July 15 Marks The Birth Of Banking Pioneer
Walker was a visionary entrepreneur
Maggie Lena Walker was born July 15, 1964. Walker was a visionary entrepreneur, civil rights advocate, and community organizer in Richmond, Virginia. Honored by the National Women’s History Museum, she is celebrated as the first African American woman to charter and serve as president of a U.S. bank, using financial empowerment to champion civil rights.
Costco Benefits And Employee Retention Make It Possible For Hourly Workers To Become Millionaires
An Arizona Costco cashier built more than $1 million in retirement savings
A longtime Costco cashier is proving that even everyday workers can become millionaires.
Tony Barzar, 60, has spent nearly four decades with the warehouse retailer, growing his retirement savings to more than $1 million while working an hourly job in Tucson, Arizona. Today, he earns $32.90 an hour, owns a three-bedroom home with a pool, and has traveled to Europe twice—all thanks to decades of steady employment, disciplined investing, and Costco’s employee benefits, reports Moneywise.
Barzar began working for Costco’s predecessor, Price Club, in 1986, collecting shopping carts in a parking lot for $5.85 an hour. When the company transitioned to a 401(K) retirement plan in 1993, he began contributing a portion of every paycheck to the account. His strategy was simple: keep contributing as his wages increased and let compound growth do the heavy lifting.
Looking back on his financial journey, Barzar admitted he never imagined where his career would lead.
“I didn’t think me and my family would reach where we sit now,” Barzar told The Wall Street Journal.
Although he’s financially able to stop working, retirement isn’t on his immediate agenda.
“I could retire. But what would I do? Costco has been good to me,” he said.
Barzar credits more than his paycheck for his financial security. After his wife was diagnosed with stage 3 brain cancer, Costco’s health insurance covered the full cost of her three brain surgeries—a benefit Moneywise described as “so comprehensive” that it eliminated what could have been devastating medical expenses.
His experience isn’t unique. According to Costco Chief Financial Officer Gary Millerchip, “many thousands” of the retailer’s U.S. hourly employees now have more than $1 million in their 401(k) accounts, reports Yahoo Finance.
Costco has long differentiated itself by paying above-average wages and rewarding employee longevity. The company recently raised its top hourly wage to $32.90, increased annual bonuses, and added another week of paid vacation for employees with at least 30 years of service. The retailer believes retaining experienced workers costs less than constantly hiring and training new employees—a philosophy Moneywise says “runs counter to most of the retail industry.
U.S. Postal Service Raises Forever Stamp Price To 82 Cents
Americans will pay more to send letters by USPS.
Americans will pay more to send letters after the U.S. Postal Service implemented new mailing rates July 12, increasing the price of a First-Class Mail Forever stamp from 78 cents to 82 cents following approval by the USPS Postal Regulatory Commission, Reuters reports.
The nationwide rate changes are part of the agency’s effort to improve its long-term financial position and support ongoing operational investments.
The new pricing affects several mailing products. Domestic postcards now cost 65 cents, up from 61 cents, while international letters and postcards increased from $1.70 to $1.75. The cost of mailing a one-ounce metered First-Class letter also rose to 78 cents.
In announcing the changes, USPS said the updated prices are intended to keep the agency on a path toward financial sustainability while continuing to modernize its nationwide delivery network through its Delivering for America 10-year plan.
“These price adjustments are needed to achieve the financial stability sought by the organization’s Delivering for America 10-year plan,” the Postal Service said in its announcement.
The Postal Service has said its pricing strategy reflects rising operating costs and declining mail volumes while helping fund investments in processing facilities, transportation, and delivery operations. USPS receives revenue primarily from the sale of postage, products, and shipping services rather than taxpayer funding for its routine operations.
The latest increase continues a trend of postage hikes in recent years. When Forever stamps debuted in 2007, they sold for 41 cents. Despite the higher price, stamps purchased before July 12 remain valid for mailing a standard one-ounce First-Class letter because Forever stamps retain their full postal value regardless of future rate increases.
USPS has maintained that, even with the latest increase, U.S. postage rates remain among the most affordable of comparable postal systems worldwide. Agency officials said the updated rates are intended to help preserve reliable mail service while supporting the Postal Service’s long-term financial recovery.
‘The Steam Bar,’ Judy Koloko’s Black British-Owned Brand Makes A Splash Across The Pond
The Steam Bar became the first Black British-owned company accepted into Sephora’s Accelerate program.
This spring, The Steam Bar Founder and CEO Judy Kolokotraveled to Atlanta to celebrate the brand’s recent addition to Sephora at The Dirty Tea, a Black woman-owned tea room. The British-Nigerian entrepreneur launched her brand after making the tough decision to leave behind a thriving career in fashion to pursue her vision of launching a premium haircare brand.
Who is Judy Koloko?
Already accomplished in the fashion industry, Koloko left behind a career that included dinners with Karl Lagerfeld and relationships with influential figures such as Anna Wintour and Miuccia Prada.
“In my mid-40s, I pivoted,” Koloko explained during the launch event. “I had an amazing career. I’ve traveled the world. I gave it all up because I thought this is going to be bigger than all that. And this has got more purpose for me.”
It was actually Koloko’s travels for work that helped inspire her vision for The Steam Bar. On many of her journeys, she found it difficult to find Black haircare products. Unable to find what she was looking for, Koloko began making plans to create her own line of products.
“I literally walked into Selfridges with just my laptop and said, ‘I’ve got this idea,” Koloko recalled. After sitting down and explaining her vision — quality haircare that didn’t just treat hair but also focused on scalp health — the department store determined it would be the birthplace of The Steam Bar brand. “They said, ‘Please don’t go and see Harrods, we want you to launch exclusively with us.”
Koloko says executives at Selfridges told her that they’d not seen a proposition like hers in years. The brand first launched exclusively in Selfridges at the end of 2023.
“And that’s how this all came to be,” Koloko said. “I won a spot in the Sephora Accelerate Program in January 2025.”
So, What is The Steam Bar?
The Steam Bar became the first Black British-owned company accepted into Sephora’s Accelerate program. Following the program’s completion in June 2025, Sephora invited the brand to join its assortment. The brand launched in April online, with six products: a clarifying shampoo for oily scalp and buildup, created specifically with curly hair in mind; a scalp and hair hydrating conditioner for dry, curly hair; a scalp microbiome balance serum for thinning hair; a detox scalp mask; a satin bonnet; and the brand’s crown jewel, a microwaveable steam cap that is currently sold out online.
With Sephora providing a foothold in the U.S. market, Koloko has already set her sights on Atlanta, a city she views as both a cultural epicenter for Black hair and a natural home for The Steam Bar’s experiential retail concept.
“Atlanta has always been the hub for Black hair,” Koloko said. “I think the people here deserve what we’re creating. Our experiences are insane. When The Steam Bar experience was in Selfridges, I had people messaging me saying, ‘I have had amazing haircare experiences in my life, but this exceeded anything that I have ever imagined.’ It’s not just about the amazing haircare treatment; it’s the service, it’s about the education, it’s about being part of the community, and ultimately, it’s about feeling good about yourself.”
That sense of self-confidence is a vital part of The Steam Bar’s brand ethos. The vibrant green and gold packaging is not only an ode to Koloko’s Nigerian roots. Each product also bears the brand’s signature tagline: What Lies Beneath. While the mantra is fitting because the products are specifically designed for scalp care, Koloko revealed that the message also carries a deeper meaning.
“It’s not about your hijab, your wig, your protective hair covering your scalp, whatever it is you’re putting on your scalp; it should go deeper than that,” Koloko, who is a proud wig wearer, declared. “What lies beneath should be, ‘Who am I? What is my purpose? What is my calling?’ What this mission is about is us loving ourselves, honoring our crown.”
A Glimpse Into Judy Koloko’s Life
In addition to her goal of helping to inspire self-confidence in others, Koloko says she was also inspired by her children. The mother of two said she is driven to leave a legacy for her son, currently in college (“on scholarship,” she notes proudly) and her daughter, now 31. When her daughter was only 9 months old, she suffered a fall that triggered a brain bleed and spent three months in intensive care. Her daughter lives with cerebral palsy, blindness, and epilepsy, but her strength and determination have proven to be another source of motivation for Koloko.
“She’s blind, and she’s epileptic, but she is a gladiator,” Koloko said. “She is the reason I am the woman I am today. My ultimate mission is actually to build a care home, which will be her legacy. Everything that’s happening here today is actually for a bigger cause. It’s really about creating something for people who have no voice.”
Koloko tasted success throughout her corporate career, but she says she’s never felt so fulfilled as she has in the last seven years, while building The Steam Bar.
“The Steam Bar is my calling, and it’s more because I know if I make this as big as I believe, then it will impact the people that really care. I’ve built something that’s all about people being seen, people deserving and people belonging somewhere, but having a child with such complex needs, I know that this mission is actually bigger than that.”
UNC $1M Endowment Goes To Howard University After School Requests Anti-DEI Compliance For Eligibility
The scholarship honors Dr. Leroy W. Upperman, one of Wilmington, North Carolina's first Black physicians
Howard University is expected to receive a nearly $1 million scholarship endowment after the family behind the fund decided to move it from the University of North Carolina at Wilmington, rather than revise eligibility language to comply with the University of North Carolina System’s equality policy, HBCU Gameday reports.
The scholarship honors Dr. Leroy W. Upperman, one of Wilmington, North Carolina’s first Black physicians and a graduate of Howard University Medical School. For nearly three decades, the endowment has supported students at UNC Wilmington. The fund distributes about $40,000 in scholarships each year and is valued at approximately $1 million.
“My father wanted to leave something that would reflect the Upperman name as well as do something to give back to the community that had supported him over the years,” Upperman Smith told WHQR Public Media.
According to WHQR, the family instead chose Howard University, where Dr. Upperman earned his medical degree, as the scholarship’s future home. Upperman Smith said preserving her father’s original intent outweighed modifying the endowment’s language to satisfy the new requirements.
The dispute stems from the UNC System’s Equality Within the University of North Carolina policy, which replaced the system’s previous diversity and inclusion policy in May 2024. The policy requires campuses to ensure that scholarships and other university programs comply with updated guidance on institutional neutrality and nondiscrimination.
UNC Wilmington said three students currently receiving the Upperman Scholarship will continue receiving financial support until they graduate, but no additional recipients will be selected under the existing endowment.
Eddie Stuart, the university’s vice chancellor for university advancement, said the institution has worked with donors to revise scholarship language while honoring their philanthropic goals and remains in discussions with the Upperman family.
If the transfer is finalized, Howard University will administer the scholarship going forward, allowing the endowment to continue operating under the donor family’s original vision.
photo by Navy Mass Communication Specialist 3rd Class Kellie Bliss) UNCLASSIFIED – Cleared for public release. For additional information contact JTF Guantanamo www.jtfgtmo.southcom.mil
Sailors Who Suffer From Razor Bumps Could Get Booted From The U.S. Navy
An estimated 60% of Black men experience the shaving-related skin condition.
Sailors with chronic shaving-related medical conditions will no longer be eligible for permanent shaving waivers under a new U.S. Navy policy that gives affected service members up to one year to complete treatment before they could face administrative separation, Stars and Stripes reports.
The guidance, issued by the Navy on July 8, implements a broader Defense Department directive requiring uniform grooming standards across the military while limiting long-term medical exemptions for facial hair.
Under the policy, sailors diagnosed with shaving-related skin conditions, including pseudofolliculitis barbae, commonly known as razor bumps, must notify their chain of command and undergo evaluation by a military medical provider. Commanding officers may authorize temporary shaving waivers for up to 90 days at a time while treatment is underway. Those waivers may be renewed, but only for a maximum of one year.
If a sailor remains unable to comply with the Navy’s grooming requirements after that period, the service will consider the condition permanent and incompatible with military standards.
“The operational success of the U.S. Navy demands the readiness of all sailors,” the Navy wrote in its guidance. “Mission accomplishment hinges on stringent compliance with standards and ensuring that implementing policies are clear, unambiguous, and compliant with law and regulation.” The memo adds that grooming requirements help ensure the safe use of protective equipment across operational environments.
The updated rules also prohibit temporary medical shaving waivers for recruits and individuals entering or reentering military service. However, mustaches remain authorized, and certain Navy special operations personnel may still wear beards in mission-specific circumstances, though they must shave before deployments involving chemical, biological, radiological, or nuclear threats.
Pseudofolliculitis barbae occurs when shaved hairs grow back into the skin, causing inflammation, pain, and scarring. The condition disproportionately affects Black men, with the American Osteopathic College of Dermatology estimating that up to 60% experience symptoms.
The Navy’s directive follows a 2025 Defense Department policy championed by Defense Secretary Pete Hegseth that curtailed most permanent medical shaving accommodations across the armed forces as part of an effort to reinforce readiness and consistent appearance standards.
On This Day: July 14 Introduced Us To Black Women In Stem And Pan-African Research
Revisiting 250 Years of Blackness in America
July 14 is significant in that it celebrates an innovator and a major moment in Black American history.
Sarah E. Goode
We can’t talk about Black women in STEM without mentioning Sarah E. Goode, who pioneered a path for Black women in industrial design, engineering, and creative entrepreneurship. Goode is the first African American woman to receive a United States patent, granted on July 14, 1885.
The Schomburg Center for Research in Black Culture
The Schomburg Center opens in Harlem, New York, on July 14, 1925. Arturo Schomburg’s collection of African American artifacts is acquired by and housed as part of the New York Public Library.
Rapsody And Simone I. Smith Team Up On A Jewelry Collection Celebrating Black Womanhood
The longtime entrepreneur and wife of LL Cool J extends her track record of celebrity partnerships with a collaboration inspired by Rapsody’s new album.
A new jewelry collection from Simone I. Smith Jewelry is coming this summer. And it’s inspired by Grammy Award-winning rapper Rapsody’s upcoming album, God Gotta Afro & Gold Hoops.
The full collection drops in August, but the Raveen Hoops, designed in 18K yellow gold plating and available in two sizes, are available for pre-order now. The statement hoops celebrate Black beauty through symbolic design elements including an Afro pick and a woman’s silhouette, and the name pays homage to the Black-owned haircare brand Raveen, known for championing natural hair during the Afro era.
“I chose to collaborate with Rapsody because she’s not only a phenomenal artist, she’s also a dear friend. She has always supported my brand, and I’ve always admired her style, energy, spirit, and authenticity,” said Smith in a statement. “The Raveen Hoops are a celebration of culture, sisterhood, and the beauty of embracing who we are.”
Rapsody further explained, “Creating The Raveen Hoops with Simone feels like the perfect physical expression of this album. The hoop represents the heirloom. The Afro pick represents the language. The woman’s silhouette represents the divinity, beauty, and power of Black womanhood at the center of it all.”
According to her website, Smith co-founded Simone I. Smith Jewelry in 2011 following her diagnosis of stage III chondrosarcoma, a rare type of bone cancer. It all started with a signature lollipop pendant, then came hoop earrings, bangles, necklaces, and a men’s jewelry collection. Through her partnership with the American Cancer Society, she donates a portion of proceeds from each sale to the ongoing fight against the disease.
Smith spoke with BLACK ENTERPRISE exclusively about the new jewelry collection and the power of partnering with other Black women:
You started your jewelry line 15 years ago. What have been the keys to running a brand that lasts?
God has been at the center of everything. I’ve stayed true to who I am, created timeless pieces instead of chasing trends, listened to my customers, and never compromised on quality or purpose.
Over the years, you’ve collaborated with a number of artists, like Sergio Hudson and Mary J. Blige. What makes for a successful partnership?
The best partnerships are built on trust, respect, and shared values. When everyone brings their authentic creativity to the table with the same goal, that’s when the magic happens.
Your Sister Love jewelry collection with Blige and your new collab with Rapsody are based on sisterhood and the power of Black women. Can you speak to the importance of women in business working together?
When women support each other, we all win. There’s room for all of us to succeed, and when we collaborate instead of compete, we create opportunities that are bigger than any one of us.
You also have a line with your daughter, Samaria Leah. What advice can you share about working with family?
Respect each other’s strengths. Let everyone bring their own vision to the table, communicate honestly, and always protect the relationship before the business.
What do you hope the next generation of women are learning about entrepreneurship?
I hope they understand that before starting a business, they should ask themselves if there’s a place in the marketplace for what they want to build. What void are you filling? And if you’re entering a space that already exists, what makes your brand different? Surround yourself with a great team that’s just as passionate about the vision as you are. Stay authentic, work hard, be patient, be consistent, and remember that your reputation is one of your greatest assets.
PACIFIC PALISADES, CALIFORNIA - FEBRUARY 19: Tiger Woods during a trophy presentation to winner Jon Rahm after the final round of the The Genesis Invitational at Riviera Country Club on February 19, 2023 in Pacific Palisades, California. (Photo by Harry How/Getty Images)
Versant Media Group To Buy Tiger Woods-Backed Full Swing Golf Tech For $530M
Versant Media Group’s acquisition of Full Swing advances its digital media growth and sports technology strategy.
Versant Media Group, Inc. announced on July 6 an agreement to acquire sports technology firm Full Swing from private equity firm Bruin Capital for about $530 million in cash.
The transaction broadens Versant’s presence in sports entertainment. The company owns major golf properties like Golf Channel, GolfNow, and GolfPass. According to a corporate press release, the acquisition allows Versant to integrate Full Swing’s simulation software, launch monitors, and performance data into its digital media and television offerings.
Tiger Woods-Backed Sports Tech Platform, Full Swing, Gets Acquired By Versant For $530M https://t.co/QCrRDEkNKM
This move supports CEO Mark Lazarus’s approach to diversifying revenue as cable TV subscriptions decline. While linear networks generate most of Versant’s revenue, Lazarus noted the company’s golf segment is evenly split between television and digital media.
The acquisition illustrates the commercial impact of 15-time major champion Tiger Woods. Woods became an early investor and partner in Full Swing in 2015, offering technical guidance for product development, according to ESPN and Front Office Sports. His involvement helped validate Full Swing’s KIT Launch Monitor, which tracks 16 club and ball metrics.
Woods’ equity stake in Full Swing is a prominent example of Black representation in the growing sports technology sector. Beyond its cultural importance, this representation adds business value by helping Full Swing and Versant Media Group expand their appeal toward diverse markets and fan bases. Organizations with visible diversity in ownership and leadership are more likely to draw a broader range of talent and partners, fueling creativity and dependability.
Historically underrepresented in executive, ownership, and technology roles within golf, African American athletes and entrepreneurs are increasingly using equity partnerships to build sustainable wealth beyond active competition. Industry advocates note that high-profile investments like Woods’ provide a commercial model for minoritized communities looking for opportunities in sports data, hardware manufacturing, and digital athletic platforms.
Full Swing is the official licensed simulator of the PGA Tour and a technology partner of the golf league TGL. Bruin Capital previously acquired a controlling stake in Full Swing for $160 million, according to Sportico.
“Full Swing is exactly the kind of strategic platform that reflects how we are building Versant,” Lazarus said in a statement, noting that the deal extends the company’s core markets into more interactive, connected consumer spaces.
The transaction is subject to standard closing conditions and is expected to close in the second half of 2026. After completion, initial integration steps will align Full Swing’s technology and product teams with Versant’s digital frameworks. They will also streamline shared data systems and launch joint marketing initiatives across both companies’ brands. Full Swing CEO Ryan Dotters will report to Will McIntosh, Versant’s president of digital products and ventures. Additional milestones, such as the rollout of new simulator content and enhanced cross-platform features, are expected after a formal integration review. Gibson Dunn served as legal advisor to Versant, while Moelis & Company LLC and Kirkland & Ellis LLP advised Bruin Capital.
