"Shaw University has seen many changes and experienced challenges in the last six months. And with change comes transitions," the university said in a statement issued today.
In June 2009, Dorothy C. Yancy took over as interim president after the abrupt announcement that President Clarence Newsome was taking a one-year leave of absence and would not return.
Shaw in 2009 announced that it was drowning in more than $20 million in debt. In 2010, the university was given a $31 million federal loan to keep its doors open.
On April 16, the school suffered more than $3 million in damages after a tornado touched down on campus. More than 27 buildings were damaged.
The school mounted a rapid recovery. Classes are scheduled to begin Aug. 17, with all classrooms and residence halls open.
On Sunday, McClaurin said Shaw's financial burden had prompted her to seek new investors.
McClaurin said she planned to take her "Imagining More" campaign - an effort to improve upon prior blueprints - to private investors and alumni across the country.
"We still have a funding challenge," she said Sunday. "The goal is to boost donations more aggressively."
Board members referred questions about the resignation to Willie Gary, chairman of Shaw's board of trustees. Calls to Gary were not immediately returned.
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