Suber said she came to the decision after much consideration, but she also spoke of "troubled waters" at the school and that she hoped the next president would have the "wisdom, experience, and tenacity" to enable Saint Augustine's University to stay the course.
"After much thought and consideration and prayer, I have decided to announce my retirement and leave the Presidency of Saint Augustine's University at the end of May 2014," said Suber in a statement. "These last 14 years at the helm of this wonderful institution have been both challenging and rewarding. I trust that my legacy will affirm that I 'left it better than I found it.'"
Suber's announcement comes as the school is facing financial hurdles and harsh criticism from students.
"Where's all the money going. We pay a lot of money to go to this school," said junior Malik Minor. "They don't have nothing for the students -- football field is still not done, a lot of bad stuff going on."
The News & Observer uncovered a recent audit showing St. Augustine's tuition revenue is down $3 million; add to that disorganized accounting, and a lawsuit from a contractor- who says St. Augustine's owes nearly $675,000 for the construction of its new football stadium.
Furloughs were avoided last month, but a former Saint Augustine's employee says there were about 20 layoffs in February, but the 147-year-old school could soon be losing even more money.
"I might need to go to another school," said sophomore D'Anthony Bryant.
"I'm actually looking to transfer," said Minor. "I'm trying to get my credits right."
Some students said the environment they are learning in right now is simply unstable. They also feel Suber's exit is a sign they should move on too.
"It wasn't what I expected when I came here," said freshman Cameron Rodgers. "When I got here, I was looking for something totally different from what it really is."
Suber will leave in May. A university spokesperson said an interim president has not been chosen.