The University of Illinois at Urbana-Champaign plans to stop offering on-campus MBA studies, opting instead to direct resources to its fast-growing online MBA program, among others.

The school’s Gies College of Business said today that it’s discontinuing the part-time and full-time in-person MBA classes, pending approval from the university, though it will still offer other specialized master’s programs and undergraduate and doctorate studies on campus. While current on-campus MBA students, including those enrolled to start the program this year, will be able to finish their degrees, Gies is not taking applications for future classes.

The college said it’s “committed to ensuring current and incoming students can finish their degree.” For those students who wish not to continue, it has extended the deadline for refunding deposits of incoming students to July 1. Students also can opt for automatic admission to the online MBA program.

The university has seen significant growth in its online MBA program since launching it in 2016. Enrollment in that "iMBA" program increased more than tenfold to 1,955 for the most recent school year, up from 114 students in the first year. Meanwhile, the on-campus MBA student population has been declining, as it has at other U.S. universities, slipping to just 98 students in the most recent school year, from 149 in 2016. That’s happening at U.S. universities across the U.S. as more specialized graduate business degrees gain traction.

“The iMBA is the right format for the times—providing a powerful learning experience with anytime/anywhere accessibility at an affordable cost,” Gies College of Business Dean Jeffrey Brown said in a statement.

Gies' online MBA program costs about $22,000 at a time when some on-campus equivalents can cost $80,000 or more, the statement noted.

The College of Business, which received a $150 million gift in 2017 from Chicago businessman Larry Gies and his wife, Beth, said it also plans to invest in expanding and adding to its other specialized master’s programs in subjects such as accounting, finance and technology, as well as to its undergraduate programs.

This story has been updated to clarify that new, incoming students this year will still be able to pursue the MBA program on campus.