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"We are committed to getting this right, " UAA Chancellor Tom Case said in a news release issued Thursday.
WSJ: UAA suspends search for head hockey coach
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The University Alaska Anchorage (UAA) said Mr Cheseto, who is studying nursing and nutrition, will remain in hospital for some time to come.
BBC: Kenya runner Marko Cheseto has feet amputated in Alaska
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Last month, the UAA Hockey Alumni Association issued a no-confidence vote in UAA athletic director Steve Cobb after what it said had been years of estrangement.
WSJ: UAA suspends search for head hockey coach
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Mr Cheseto has reportedly been suffering from depression since fellow UAA student runner William Ritekwiang, from his hometown of Kapenguria, took his own life in February.
BBC: Kenya runner Marko Cheseto has feet amputated in Alaska
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After his 48 hours out in freezing temperatures, Mr Cheseto stumbled into a hotel near the UAA campus in the early hours of Wednesday 9 November.
BBC: Kenya runner Marko Cheseto has feet amputated in Alaska
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"He seems very upbeat and anxious to get on with a rehabilitation programme, " Steve Cobb, UAA's director of athletics, is quoted by Reuters news agency as saying.
BBC: Kenya runner Marko Cheseto has feet amputated in Alaska