[caption id="attachment_50769" align="alignleft" width="215"] For-profit enrollment is down after a spike that followed the economic collapse.[/caption]

When the University of Phoenix, the country's largest university, announced it's closing 115 campuses and satellite locations, it signaled more than a sudden availability of commercial real estate near highway interchanges, where for-profit colleges like to set up shop as a student convenience.

After years of explosive growth that really caught fire when the economy collapsed four years ago, for-profit higher education is shrinking fast.

That's not a good thing for providers like Phoenix, at least in the short...

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