Mid-Continent University’s board will vote early next week on putting the shuttered university’s Mayfield property up for sale.
Mid-Continent vice president of finance and administration Tim Walker says a secured creditor for the bankrupt university, Huntington Bank, requested the move. He said 17 acres of property will be listed, which includes the Christian school’s main campus and president’s home.
The university’s board will discuss pricing during the Tuesday meeting.
Walker says this development doesn’t necessarily mean MCU will be vacating the property. He said the school hopes to secure future mortgage payments by collecting more than $13 million in outstanding tuition and fees.
The Kentucky Attorney General’s Office is currently working with the university to provide former students discounted payment plans for federal loan debt.
MCU closed in June 2014 after being plagued by financial and accreditation issues.
