A proposal to close St Columba's Primary School in the village of Newbuildings was formally presented to the Education Authority on Thursday.
The plan would result in the school shutting its doors on 31 August 2027.
Opened in 1955, the institution serves pupils in County Londonderry under the management of the Council for Catholic Maintained Schools.
A board of governors has publicly stated that initiating this closure now is premature.
The decision to close the site remains subject to further review by the Education Authority.
No immediate timeline for a final ruling on the proposal has been announced.
Parents and staff are currently awaiting confirmation of whether the plan will proceed as outlined.
The school's future depends on the outcome of the ongoing consultation process with the relevant authorities.