Aoraki Polytechnic's options for the future will be known next month.
Financial challenges led the polytechnic to appoint independent adviser Malcolm Inglis to look at options, which are to be presented to the Aoraki Polytechnic Council at its March meeting.
Aoraki suffered a loss of $1.6 million in 2011 and is facing a projected loss of $2.1m for 2012, along with a drop in student numbers.
Aoraki chairman Kevin Cosgrove said Mr Inglis had already presented the council with some "points of interest".
"Things have slowed down over Christmas but the board will be presented with the options next month."
He did not know when the options would be made public.
"There is no fixed time; we have to go though a consultation process first."
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