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Officials have rubber stamped an application today which makes Hadlow College the first in the country to be placed into education administration.
Education Secretary Damian Hinds said last week his department had applied to the courts for the college to go through a new insolvency regime.
It has now been confirmed that an administrator will be appointed and that bosses will work with everyone concerned to maintain educational provision at Hadlow, so that current students can continue with their courses.
Hadlow College's financial troubles leave parents and students fearing for the future
Interim principal Graham Morley has insisted it is "business as usual" at the college and that parents and students should not be concerned about any impact on the level of education received.
However, Tonbridge and Malling MP Tom Tugendhat and council leader Nicolas Heslop have both expressed concerns over what the future may hold for the college.
A Department for Education spokesman said: “Following a request from Hadlow College, we can confirm that the college has today been placed into education administration.
"This is not a decision we have taken lightly, but it is a necessary step to maintain educational provision at Hadlow and to protect learners.
“The Education, Skills and Funding Agency will continue to work closely with the Further Education Commissioner, the administrators and with Hadlow College to minimise disruption to staff or students, and to make sure we have excellent provision of FE in Kent.”
Talks have already begun with other further education providers in Kent, including the EKC Group, which is due to find out if it can take over the running of Ashford College next month.