A private university in Mercer County will lay off up to 40 full-time faculty members, slash salaries by 14% and make other cuts due to escalating financial problems, campus officials said.

Rider University is making “urgent and severe choices” after it was place on probation by its accreditor, the Middle States Commission on Higher Education, Rider President John R. Loyack said Monday.

The 4,000-student school will continue to offer classes while on probation and try to limit the impact of the cuts on students, the president said.

“I must stress that the administration continues to be intentional about doing everything possible to minimize the impacts of a potential restructuring on our students. We intend to ensure that every student can take the classes they need to complete their i

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