Heythrop College in London is to close as a higher education institution after more than 400 years of operation.
Its current form as a constituent college of the University of London will end in 2018.
But a statement following a governors’ meeting noted that the Jesuit-run institution’s “mission and work will not [end]”.
Heythrop, which specialises in theology and philosophy, has been struggling with a budget shortfall following the rise in student fees and increasing administration costs.
Merger talks with St Mary’s University in Twickenham did not reach a formal negotiating stage.
The college has about 650 students and employs 91 people, including 45 academic staff.