Land-based college Writtle University College has announced plans to merge with Anglia Ruskin University (ARU).
The proposed merger will "secure a long-term, sustainable future" for Essex-based Writtle, a spokesperson said.
The college, which specialises in land-based degrees including agriculture and horticulture, posted an underlying operating deficit of £1.5m in its a recent financial statement.
It has previously highlighted financial challenges caused by the UK leaving the EU, the Covid pandemic and Russia's war in Ukraine.
Under the merger, the Writtle estate would operate under the campus name ARU Writtle, taking its place alongside ARU Chelmsford, ARU Cambridge, ARU Peterborough, and ARU London.
Writtle's full range of Higher and Further Education courses would continue to be delivered on site, supported by the wider resources of ARU.
A college spokesperson said: "As you would expect, we are working together to produce a comprehensive implementation plan, and will be consulting widely with staff, students and stakeholders.
"Subject to the approval of education regulators, we will then enter a legally binding agreement to proceed with the merger.
"With our shared values, considerable resources and geographical proximity we are looking forward to achieving sustained growth and continued success."
