The Rev. Consider Parish took office as president on July 29, 1848. Reports show trustees elected him to operate the school on his own, without financial support from the board, except for a $200 income supplement. There were four A.B. degrees granted by the college in 1849. By July 1850, trustees decided the school’s financial situation was “hopeless.” At the request of the board, the Clinton Presbytery dissolved all ties with the college. A selection panel from the board replaced those connected with the Presbyterian Church and Rev. Parish resigned as president.