Burlington College Closing Due To "Crushing Debt" Incurred Under Presidency Of Bernie Sanders' Wife
In what may or may not be a harbinger of things to come should Bernie Sanders become president, earlier today Burlington College, a small Vermont private school once led by the wife of Democratic presidential candidate Bernie Sanders, said Monday it will close later this month, citing
"the crushing weight" of debt incurred during the presidency of Jane Sanders who was in charge of the college until 2011
The reason for the small liberal school's terminal financial trouble is that to fund the property purchase from the Catholic diocese, Sanders took out $10 million in loans. As HeatStreet
reported last month, the college almost immediately fell short on its financial obligations as fundraising pledges and commitments Ms. Sanders cited in the loan agreements never materialized.
Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package. By 2014, because of its shaky finances and running deficits, Burlington College found itself placed on probation for two years by the regional accreditation agency.
http://www.zerohedge.com/news/2016-05-16/burlington-college-closing-due-crushing-debt-incurred-under-presidency-bernie-sander
Why is Bernie complaining about money, when his wife is ripping off colleges for 200,000. Burlington college is feeling the Bern