New Jersey City University plans to claw its way out of years of financial struggle by merging with Kean University, in a plan approved unanimously by the NJCU’s board of trustees on Wednesday.

NJCU has faced severe money woes for years. The university declared a financial emergency in 2022 and laid off top staff, while citing $300 million deficit on the school’s books.

A state monitor recommended last year that NJCU seek merger proposals, and New Jersey Secretary of Higher Education Brian Bridges gave the school until the end of this month to find a willing partner.

“Maintaining access to high-quality post-secondary education for students and the community, who have long benefited from NJCU’s local presence, forms the basis of our shared commitment to the institution’s future,” Bridges said in a joint statement with Gov. Phil Murphy.

“The NJCU Board’s intent to pursue a strategic merger with Kean University continues this commitment and marks the beginning of a thorough and deliberative process to unify these mission-aligned institutions,” the statement said. “We look forward to working with state and institutional leaders on the path to a successful transition that empowers student success and long-term resilience.”

The merger with Kean, which will see NJCU renamed Kean Jersey City, will keep the state’s oldest minority and Hispanic-serving institution open.

“As this process moves forward, it is imperative that the merger maintains the integrity, identity, and mission of NJCU as an urban institution that prioritizes social mobility,” said state Sen. Angela McKnight (D-Hudson). “I am confident that NJCU can navigate this transitional period in a way that safeguards its core values and creates opportunities for students and faculty to thrive.

“Kean University must be a partner in preserving the essence of NJCU, ensuring that its diverse student base continues to receive the support and resources necessary for success,” she said in a statement.

Faculty unions at both universities say they’ll push to make sure members are protected and treated fairly. Union leaders at NJCU are also asking lawmakers to support a three-year period of continued employment for members.