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Financially troubled Mid-Continent University to close on June 30

Reported by: Associated Press
Reported: Wednesday, April 16, 2014 7:59 AM EDT

Officials at the financially struggling Mid-Continent University have decided to close the school on June 30.

Media reported the board of trustees announced the decision Tuesday evening after meeting for three hours.

Acting President Robert "Tom" Walden, who was appointed Saturday to replace interim president Ken Winters, said everyone at the school has been laid off due to a lack of finances. Walden said the school will remain open so that seniors can graduate thanks to faculty and staff who are volunteering their time.

The final day of classes is set for May 2 and graduation is May 10.

The school announced in February that financial woes might force it to close. The financial situation stemmed from the U.S. Department of Education's rejection of financial aid paperwork.


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