Macon college deals with debt; prepares to name president

MACON - Wesleyan College&#39;s debt could kill some of its lofty plans for new construction, sports teams and higher academic standards. <br> <br> Losses at the Southeast&#39;s oldest liberal arts college for women have been mounting because of poor investment returns, lower donations and sagging revenues, said acting President Ruth Knox. <br> <br> ``There is a sense of urgency, but not panic,&#39;&#39; Knox said. ``We remain optimistic.&#39;&#39; <br> <br> Wesleyan must reduce its $14 million annual operating budget because the college projects a loss of $3.5 million for the current fiscal year. <br> <br> Meanwhile, the private school is preparing to name its 24th president Thursday. Knox has led the college since Nora Kizer Bell left for Hollins University in Virginia in May. <br> <br> The new president will have to raise tuition, cut financial aid and persuade alumnae to donate more, Knox said. <br> <br> <br>