In February 2004, the college announced that it had regained solvency. Despite this, one of the first challenges Armacost's replacement, Donald R. Eastman III, faced was having the institution warned that it might lose its accreditation because of these financial problems. Partially in response, in May 2006, Miles Collier, then-chairman of the Board of Trustees, and his wife, Parker Collier, announced a $25 million challenge gift to the college; they subsequently increased this to $40 million. In November 2008, alumnus Grover Wrenn, a member of the founding Class of 1964, gave the college a $1 million gift, the largest at the time from an alumnus. Eastman's position at Eckerd became the second-longest of any president at the college. Although later in his tenure he came under criticism for statements about campus sexual assault, Eastman is still credited with doubling applications for admission to Eckerd, providing more student housing, and improving the college's stature after its financial scandal. Eastman was succeeded by Damián J. Fernández in July 2020. In the Fall semester of 2021, Eckerd had 718 first-year and transfer students, its largest incoming class yet. Presidents William H. Kadel (1958–1968) Billy O. Wireman (1968–1977) Jack Eckerd (Interim, 1977) Peter H. Armacost (1977–2000) Eugene Hotchkiss (Interim, 2000–2001) Donald R. Eastman III (July 1, 2001 – June 30, 2020) Damián J. Fernández (July 1, 2020 – August 1, 2022) James J. Annarelli (Interim, 2022; appointed 2023–present ) Academics Eckerd College is accredited to award Bachelor of Arts, Bachelor of Science, and Bachelor of Fine Arts degrees in more than forty majors, or students can design their own concentrations. Its most popular majors, based on 2021 graduates, were: Marine Biology and Biological Oceanography (76) Biology/Biological Sciences (57) Environmental Studies (50) Psychology (35) Development and Child Psychology (20) Every student takes four years of classes across a wide variety of fields—art, literature, the natural and social sciences—regardless of their major. Often called General Education, these courses are designed to provide critical thought, the ability to make complex decisions and a commitment to lifelong learning. Every student is required to complete a set number of hours of "reflective service-learning" before graduation. New students take their first college course during a three-week orientation called "Autumn Term" that is guided by faculty and peer mentors. Eckerd College originated the 4-1-4 academic calendar, with the "1" representing the Winter Term during the month of January, in which each