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Robert Imhoff, president of Mid-Continent University, resigned Saturday amid reports that the Baptist institution in Kentucky is facing a severe financial crisis, WPSD News reported. At the same time, officials vowed to keep the university open. At least one trustee has suggested that the university may not be able to survive, and local colleges are looking at transfer options for those at Mid-Continent. Gale Hawkins, a trustee, shared this advice for students: "I just simply say, if it was my child or myself I would get the most current transcript I could get from the office today."