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The Connecticut Board of Regents for Higher Education will review a plan Thursday that would place the state's 12 community colleges under one accredited institution, according to the Connecticut Post.

Connecticut State Colleges and Universities President Mark Ojakian said the plan is estimated to save $28 million in overhead costs by the time the new system is established in July 2019. 

Ojakian recommended consolidating the system earlier this year as a cost-saving measure for the system. 

The proposal would see the system shrink from 12 presidents to one vice-chancellor, 36 administrative positions down to 16 and eliminate campus financial and academic officers. Each of the community colleges would be operated by a vice president and clustered into three regions headed by a regional president. 

The full consolidation would require approval from the faculty, regents and the New England Association of Schools and Colleges -- the regional accrediting agency.