KING Alfred's College in Winchester is hoping to become Hampshire's newest university.
The higher education college is waiting to hear if its bid to gain the title has been successful.
Assessors recently visited the college, which wants to be able to award its own degrees instead of relying on Southampton University.
It is among the last higher education colleges to gain the status and would be the county's first university since Portsmouth Polytechnic in 1992.
Last week the government announced that seven institutions would be granted the title.
It also said it was changing the criteria of a university from a place where research was conducted to one that reflected the quality of teaching.
The elevation would be widely welcomed in Winchester, bringing more prestige to the city and an economic boost. If it was rejected it would be a major blow, leaving it among the last and the largest colleges without the university title. That would affect student numbers and hit the college financially.
In a statement, King Alfred's said it "welcomes the announcement by the minister for higher education, Margaret Hodge, that new criteria will allow HE colleges to apply for full university status.
"Principal Professor Paul Light endorsed the minister's view that 'successful institutions have been shut out for too long'.
"King Alfred's has now completed the process of assessment for gaining taught degree-awarding powers. Such powers would enable the college to award BA/BSc and masters degrees without the need for its present accreditation arrangement with the University of Southampton.
"No public announcement will be made until the panel's recommendation has been considered by the Quality Assurance Agency, the Department for Education and Skills and the Privy Council, which may take some months."
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