Frequently Asked Questions

The decision to sign a new joint agreement and explore a potential strategic combination between St. Ambrose and Mount Mercy brings exciting possibilities. It also brings many questions. We provide answers to the most frequently asked questions here. As the process moves forward and new information comes available, this page will be updated.

General information

St. Ambrose University and Mount Mercy share roots as two long-standing independent, private and not-for-profit Catholic universities based in Iowa. St. Ambrose was founded in 1882 and Mount Mercy in 1928. The two universities share consistent values, beliefs, and priorities about education. They each have substantial reputations for workforce related student success. Given these shared values and successful outcomes with past collaborations, the presidents of each university, Dr. Amy Novak of St. Ambrose and Dr. Todd Olson of Mount Mercy, are taking a proactive approach to the current higher education landscape to increase access and affordability to quality education for both traditional students and adult learners.

The new joint agreement allows students to take a range of courses from either university (in-person or online), starting in fall 2024. This arrangement, which was approved by each university’s board of trustees, will lead to more pathways for undergraduate and graduate students at both institutions beginning in fall 2024. The two universities are also in the process of finalizing a second agreement that will facilitate the seamless transition of qualified students from undergraduate into graduate degree programs. 

Beginning in January of 2023, the president of St. Ambrose University, Dr. Amy Novak, and the president of Mount Mercy University, Dr. Todd Olson, began to discuss whether, and how, the two universities might come together in mutually beneficial and enriching ways. Those initial meetings led to further conversation, which led to a more than year-long exploration of the viability of a strategic relationship.   

In January of 2023, the university presidents met to discuss the state of Catholic higher education.  These discussions led to both universities pursuing a Nursing Articulation Agreement in June of 2023 that gives St. Ambrose students preferential admittance when applying to Mount Mercy’s MSN program. 

In that same month, a taskforce comprised of members of both university’s boards and key university administrators convened to outline a joint vision statement for a possible deepened collaboration. 

In December 2023, the board of trustees of both universities signed a letter of intent (LOI) to begin a robust due diligence process and explore the potential of a deeper and more comprehensive venture, including the potential of reducing costs and increasing operational efficiencies by sharing administrative operations. 

In January 2024, the presidents collaborated again (along with the presidents from Loras and Clarke) to pen a joint OpEd on how Catholic higher education is an asset for Iowans. 

In April 2024, upon review of the majority of the results of the due diligence process, the respective boards voted to continue pursuing a possible combination.  Also in April 2024, the provosts of both universities signed a new agreement (sometimes called a consortial agreement or co-registration agreement) that allows students to take a range of courses at either university, beginning in fall 2024.

The goal of the agreement is to expand access and affordability to quality education for traditional students and adult learners alike. Cost savings and more efficient operations may result in the future if the two universities move forward with a strategic combination.

St. Ambrose University shares these key metrics regarding its strength and stability: 

  • Endowment of $220 million as of June 30, 2023.  This is up 40% over the past five years 
  • 36th largest endowment out of 187 Catholic Colleges (CollegeRaptor.com).  
  • The endowment is also largely unrestricted, with only 21% restricted by donor intent. 
  • Strong unrestricted resources, with unrestricted cash and investments exceeding 275% of annual expenses and 410% of long-term debt. 
  • Low levels of long-term debt, with debt under 20% of total assets. 
  • Department of Education Composite Score that is consistently at 3.0, the highest level. 
  • Consistent full-accrual operating surpluses. 
  • Bond rating of A- with a stable outlook.  

  

Mount Mercy University shares these key metrics regarding its strength and stability: 

  • Endowment of $39.3 million as of June 30, 2023.  This is up 41% over the past five years. 
  • Total debt of $12.9 million as of June 30, 2023. This is less than 15% of total assets and less than 50% of the annual operating budget. 
  • Bond rating of B (Forbes). 

St. Ambrose University has a total of 2,703 (both full and part-time, graduate, and undergraduate) students enrolled in the 2023-24 academic year. 

Mount Mercy University has a total of 1,449 (both full and part-time, graduate, and undergraduate) students enrolled in the 2023-24 academic year. 

This collaboration represents a proactive approach to capitalize on the current academic and financial strength of both St. Ambrose and Mount Mercy and lays the foundation for a new, responsive, and sustainable model of Catholic higher education.  

Father Dennis Holtschneider and Dr. Donna M. Carroll, co-presidents for the Association of Catholic Colleges and Universities, state that this is precisely the type of proactive activity they have been encouraging colleges to explore. “We know these are challenging times for our colleges and universities,” says Carroll. “We fully support the work St. Ambrose and Mount Mercy are doing to lead the way in creating a responsive and sustainable future for Catholic higher education.”

Additional statements of support for this innovative model from the Sisters of Mercy and Archbishop Zinkula can be found here.

The intention of a combination would be to strategically align and bring together the two universities to provide an innovative new model for Catholic higher education. 

A strategic combination will allow both institutions to share resources, administrative functions, and economies of scale to achieve cost savings and operational efficiencies, providing long-term sustainability for the universities and reduced costs for students and families.

Even if a combination happens, both universities will maintain separate residential campuses, separate co-curricular programs, and both the St. Ambrose and Mount Mercy names will be maintained.

The two universities will continue to operate independently, with their joint academic agreements still in place.

We will update this FAQ as we move forward in the process. Consider bookmarking this page and checking back regularly for updates. We also will reach out proactively to our communities with updates.

For students

The agreement will lead to more pathways for undergraduate and graduate students at both universities. Students on both campuses will have access to a range of courses from either university, whether in-person, or in a hybrid or online format beginning in fall 2024. 

The goal of the agreement is to expand access and affordability to quality education for traditional students and adult learners alike. We also see anticipated student benefits that will include reduced time to degree completion, a strengthened core curriculum, and new opportunities for adult learners to obtain certificates and enhance their skills in the competitive labor market. We are in the process of finalizing a second agreement that will facilitate the seamless transition of qualified students from undergraduate into graduate degree programs.

Each university will continue to operate as an independent institution and tuition and fees will be set by each university individually.

Each university offers similar programs and programs that aren’t available at the other university. This means that potentially you as a student could have expanded course offerings within your area of study or new areas of study to consider, which gives you more options. You may see entirely new programs available to you because of this partnership. 

Each university will continue to operate as an independent university and registration will not be impacted. 

Each university will continue to operate as an independent institution and the professors who currently deliver the curriculum will continue to do so. Not a lot will change as far as the mission, style of teaching, or classroom experience. However, more course options will be available to students beginning in fall 2024. If you choose to take a St. Ambrose course, those courses will be taught by St. Ambrose professors. Students will have in-person, online, and hybrid classes to choose from.

Both universities will maintain their separate and respective athletics programs, continuing to operate as the Mount Mercy Mustangs and St. Ambrose Bees. The two athletic programs will continue to compete against each other in their respective conferences, as they always have. Colors, mascots, and uniforms will remain the same. Mount Mercy Mustangs will continue to proudly wear their blue and gold as Mustang Sally cheers them on.

Both universities will maintain their separate and respective music programs but will look for opportunities to collaborate on joint concerts, visiting conductors, and music education experiences. 

Both universities will maintain their separate and respective campus ministry programs, looking for opportunities to collaborate on service and mission work.

Both universities will maintain their separate and respective student clubs and organizations.

This combination would allow each university to expand our offerings for our students, better respond to workforce and labor needs, and better serve the Cedar Rapids and Quad Cities communities. The student experience at both campuses will change only for the better. 

Attend open forums and share your ideas. We believe in transparency and open dialogue. We fully expect great ideas will come from students, university leadership and staff members, our department leads and faculty, as well as donors and alumni boards. We want to hear from every member of the community.

For faculty

Our faculty will enjoy opportunities to reach more students, to collaborate with a broadened group of colleagues, and to apply a more regional mindset in all we do. 

Each university offers similar programs/offerings and programs/offerings that aren’t available at the other university. As part of the process, we will identify the overlaps and the gaps to see how our deepened collaboration can strengthen each respective institution and expand offerings for our students.

No changes to leadership/staff/faculty/board membership are expected as a result of the new joint agreement.

The new joint agreement will enable students to take courses on either campus but is not expected to impact modalities or have an immediate impact on course load.  

Now that the initial due diligence process has been completed and our agreement signed, we are thrilled to be able to expand the conversation. Faculty will have plenty of opportunities to provide input as we move forward in this process.

This combination allows us to expand our offerings for our students, better respond to workforce and labor needs, and better serve the Cedar Rapids and Quad Cities communities.

Attend open forums and share your ideas. We believe in transparency and open dialogue. We fully expect great ideas will come from students, university leadership and staff members, our department leads and faculty, as well as donors and alumni boards. We want to hear from every member of the community. 

For alumni

Now that the initial due diligence process has been completed and our agreement signed, we are thrilled to be able to expand the conversation. Alums will have plenty of opportunities to provide input as we move forward in this process.

Each endowment will remain controlled by each respective university and will not be affected.

Attend open forums and share your ideas. We believe in transparency and open dialogue. We fully expect great ideas will come from students, university leadership and staff members, our department leads and faculty, as well as donors and alumni boards. We want to hear from every member of the community. 

For donors

Donations are not subject to impact by this agreement and will be managed solely by each respective university for its own purposes.

Please send an email with your questions to Associate Vice President for Development & Alumni Relations Lonna Drewelow or call her directly at (319) 363-1323 x1556.

Annual gifts will remain controlled by each respective university and will not be affected by this new joint agreement. 

All restrictions on current gifts will be honored, and those gifts will continue to support the individual university programs, facilities, and initiatives for which they are intended.

For the community

Now that the initial due diligence process has been completed and our agreement signed, we are thrilled to be able to expand the conversation. We invite all members of our community to provide input as we move forward in this process.

We hope and expect that our legacies and relationships will deepen. We know we would not be the institutions we are today without our legacy partnerships. Today, our goal is to respond to the rapidly evolving educational landscape and the imperative to adapt. We believe that as this partnership will make each of our institutions stronger, our legacy partnerships also will benefit.