Wilberforce University, the nation’s oldest private black college and the first college to be owned and operated by African Americans, has selected a new president. The new and 20th president of Wilberforce, which will be announced this coming Saturday at an alumni gathering in Memphis, was picked from two other potential candidates for the job by the university board of trustees over the weekend.

He or she will face a lot of adversity right away coming into the job. Reports say the storied 158-year-old college is now in danger of losing its accreditation and access to federal financial aid for its students:

“We are in such a deep hole, I don’t see how we can get out of it,” said economics professor Richard Deering to Diverse.

This story is still developing