A tiny Vermont college announced Monday that it would close its doors by the end of the month, thanks to the “the crushing weight of debt” accrued during Jane Sanders’s time as president.
Burlington College will shut down May 27 after being on probation with its accrediting agency for nearly two years. The school has been stuck in financial turmoil from a 2010 land acquisition arranged under Sanders, the wife of presidential candidate Bernie Sanders.
The Burlington Free Press reported:
The school took on $10 million of debt to make the purchase, the Free Press reported. But Sanders’s expansion plan failed to attract enough alumni donations or new applicants to pay for it, leading the school’s accrediting agency to put it on probation in July 2014. The college said in a statement that it did not anticipate meeting the accreditor’s financial standard to have its probation lifted.
Sanders left her post in 2011.
