On Saturday, Mid-Continent University leaders appointed Dr. Robert "Tom" Walden as acting president, effective immediately, replacing current acting president Dr. Ken Winters.
MCU Board of Trustees Chairman Tom Butler, Sr. says Winters stepped aside from the post due to family health issues, but will remain available to assist in an advisory manner.
"When Dr. Winters came to us, he emphasized that it would be for a limited time only because of his wife's health," said Butler. "When he had reached his limit of what he was able to do here, we asked Dr. Walden, who is on our trustees board and has previously served as vice-president of student affairs, to fill in."
The Mayfield-based Christian university is currently undergoing a monetary crisis as multiple financial aid submissions were rejected by the Department of Education late last year, leaving the school to pay more than $9 million for student tuition and other costs.
Butler says a new submission has been sent to the DoE's regional office. The response is expected to come in the next few weeks.
The school has applied for up to $4 million of aid for 500 of the school’s 2,500 students.
Meanwhile, MCU has had to lay off 40 employees, sell off two parcels of school property and restrict new student admissions all in order to cut operational budget costs.
Butler says Walden will remain in place as long as needed and the search for a more permanent interim president is still in its early stages.
The Mid-Continent's senior graduation is still scheduled for May 10.