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The University of Phoenix will stop enrolling students at its Far East Side campus and eventually close the facility, spokesman Ryan Rauzen said.

About 150 students currently enrolled in the on-campus classes, which meet one night a week, will be allowed to keep attending classes until they graduate at the current site or another unnamed site pending negotiations with students themselves and accrediting agencies, he said.

The for-profit education will take the same approach to campuses in Brookfield and Grand Chute. The Milwaukee campus will remain open, Rauzen said.

The closures come as parent company Apollo Group Inc. said Tuesday that its fiscal fourth-quarter net income tumbled 60 percent, hurt by higher costs and declining enrollment at the University of Phoenix. The company plans to close 115 of the university's locations nationally, a move that will affect 13,000 students.

The University of Phoenix currently has about 328,000 students, down from a peak of more than 400,000. Following the closures, it will be left with 112 locations in 36 states, the District of Columbia and Puerto Rico.

Shares in the Phoenix-based company tumbled nearly 8 percent in after-hours trading.

— The Associated Press contributed to this report

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