A local company formed to try to save the training that happens at the former Newton Rigg College at Penrith has applied to the government's Further Education Commissioner to take the campus over.
The college is due to close because its parent institution, Askham Bryan, said it was no longer financially viable.
But people involved in industries such as farming in Cumbria say the training it provides is essential to the local economy, and the company has raised a significant amount of money to take the business on.
The company's deputy chairman Christopher Crewdson said: "Newton Rigg College needs commitment to realise its important future potential, not compromise, and we should all be proud that we have pulled together as a community to fight for this to happen."
The group is hoping to hear whether their bid has succeeded during December.