Wife Of Bernie Sanders Forced Burlington College To Close With “Crushing Weight of Debt”
Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package.
Heat Street reports.
BREAKING: Burlington College Closes Due To “Crushing Weight of Debt” Acquired By Jane Sanders
Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.
At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement.
As Heat Street 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.
BREAKING: Burlington College Closes Due To “Crushing Weight of Debt” Acquired By Jane Sanders (Heat Street)
Comments
A socialist acquires lots of debt and can’t repay it? How is that news.
She quit too early. She should have stayed on for 8 years, like Obama, that way she could have borrowed enough more money to cover that debt and printed even more.