The "strategic combination" will help the institutions consider how they might be better together, says Amy Novak, president of St. Ambrose.
"We've often just relied on our own instuitions do everything for all people all the time."
"The calls from our constituents to be more acessible, more affordable, more relevant, to open up more pathways for student learning, we've often thought about that alone."
Todd Olson, President of Mount Mercy, says the agreement will allow students to seamlessly transition from undergraduate to graduate programs.
"We have some complementary, almost interlocking graduate programs," he said. "But, when we come together, the set of opportunities for our students look very promising."
"We also need to become as efficient as we can be and making sure that what we do is an asset to students and doesn't narrow down their opportunities."
Both university presidents say the combination could help students save on tuition by allowing them to shave off a year of college, while also protecting the schools from declining enrollment numbers.
St. Ambrose and Mount Mercy are still discussing a potential larger merger that could be finalized in the next two years.