(Radio Iowa) – Officials say St. Ambrose University in Davenport will become the non-profit owner of the Mount Mercy University campus in Cedar Rapids within the next two years. The presidents of the two Catholic universities held a news conference to discuss the merger and sign the agreement. Federal officials and the commission that reviews U-S college and university academic standards have to review the merger plan and approve it.

After the merger, the Cedar Rapids school will become the Mount Mercy Campus of St. Ambrose University and classes will be held on both campuses. Mount Mercy’s president says it’s a very challenging time for higher education in the U-S, especially for small private institutions like his. Since 2011, student enrollment in U-S colleges and universities has dropped each year. Fifteen non-profit colleges in the U-S closed last year, including Iowa Wesleyan in Mount Pleasant.

Saint Ambrose president Amy Novak and Mount Mercy president Todd Olson sign merger agreement in Cedar Rapids. (St. Ambrose University photo)

Last spring over 27-hundred students were enrolled at St. Ambrose and about 14-hundred students were enrolled at Mount Mercy. Three months ago, the presidents of the two institutions announced students could enroll in a range of in-person or online classes at either school for the fall semester. The Davenport Catholic Diocese founded St. Ambrose in 1882. The Sisters of Mercy founed Mount Mercy in Cedar Rapids in 1928.