I would talk to whoever runs the music school and state what you wrote in your post. It's a waste of money if the teacher is so far outside your needs; you will just get more and more upset as time passes. If they can't arrange lessons with someone else, then I'd be inclined to take a pass on lessons for the summer, as disappointing as that might be (unless you know a teacher outside the music school who would be willing to give you some one-off lessons).
You make a good point about piano teachers with an advanced degree, that they've been exposed to playing a whole boatload of music in the time it takes them to get a degree. That is less important, I think, for beginners but very important for students who are further along in their studies.