Oxford University's last remaining all-female college has finally bowed to financial pressures after governors voted yesterday to admit male students and academics.

St Hilda's College, in Cowley Place, founded in 1893, will make the change within two years. Its governors approved the move by the required two-thirds majority, in their fourth vote on the issue in the past nine years.

In student ballots earlier this year, undergraduates voted by 55 per cent to 45 in favour of allowing men in, while 81.4 per cent of graduate students voted to remain all-female.

Junior Common Room president Alibhe Menton said: "The JCR members were very happy with the result and that our opinions were listened to.

"The most important thing now is not which side of the debate you're on, but to move forward together and do what's best for the college to keep it a great place to go."

The Middle Common Room represents postgraduates. Its president Claire Lynch said: "The biggest loss is for the women who choose St Hilda's for religious or cultural reasons who would not otherwise go to university.

"It's also a strong base for women in a hugely male-dominated organisation and that's something that the whole university should address."

St Hilda's principal, Lady English, said: "The ability to consider men as well as women for Fellowship appointments will have immediate benefit by allowing us to strengthen our science teaching. However, our commitment to supporting women's careers remains a priority."

The college will now amend its statutes and charter. It plans to open fellowship appointments to both men and women as soon as the formalities have been completed.

The date for the first admissions of male students will be decided after consultation with students.