ARKADELPHIA, Ark. (AP) — Two Arkansas universities are closer to a merger after receiving approval from a regional accrediting agency.

The Higher Learning Commission has approved the proposed merger of Henderson State University into the Arkansas State University System, the Arkansas Democrat-Gazette reported.

Henderson State, located in Arkadelphia, has faced financial difficulties in recent years. The school reported an enrollment of more than 3,000 students this fall.

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“We look forward to continuing Henderson’s rich traditions and mission of service to students as a member of the ASU System,” Henderson State University Interim Chancellor Jim Borsig said in a news release. “I am confident that this affiliation will continue to strengthen Henderson, and I am grateful to the Higher Learning Commission for confirming this important step in the process.”

Officials are hopeful the merger will be complete early next year.