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Argosy University to close its Twin Cities campus on Friday

The for-profit college serves more than 1,100 students in Minnesota.

The struggling Argosy University will close its Twin Cities campus, located in Eagan, on Friday.

The Minnesota Office of Higher Education (OHE) confirmed that the for-profit college had notified it that the campus just off of I-35E would will be closing.

Transfer fairs are being held at the campus on Thursday and Friday for students who have more than a year left on their program, while another will be held at the OHE in St. Paul on March 15.

For those with less than a year left, there are "teach-out" plans in the works that can help them complete their program, albeit the OHE is warning there will be "disruptions and delays."

The writing was on the wall on Wednesday when the university's chairman wrote to students saying the campus would close if a buyer wasn't found by Friday, while its website said it would no longer be enrolling new students.

After the closure on Friday, the OHE will provide students transcripts free of charge to affected students for up to 6 months.

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The Eagan campus provided tuition for more than 1,100 students on a mixture of 34 undergraduate, graduate and doctoral programs.

The university's parent company, Dream Center Education Holdings, went into federal receivership in January, and thousands of its students across the country stopped receiving the federal student loan funds that Argosy processed for them.

The Star Tribune reports its woes come at a challenging time for for-profit colleges, with the Twin Cities having lost Globe University, the ITT Technical Institute and the McNally Smith College of Music in recent years.

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