A tiny Vermont college that has faced financial troubles since it was headed by the wife of Democratic presidential candidate Bernie Sanders will close at the end of the month, officials announced Monday.
Burlington College has been struggling under the weight of its $10 million purchase of property and buildings it made in 2010 from the Roman Catholic Diocese of Burlington during Jane Sanders’ presidency.
President since 2004, she wanted to double the then-200 student school enrollment by 2020. Sanders left the private liberal arts college in 2011. A request to the Sanders campaign for comment from Jane Sanders drew no immediate response.
Last year, the college sold most of the land it had purchased on the Lake Champlain shore, widely considered the most valuable undeveloped real estate in Burlington, to a developer for $7.65 million. But that was not enough for the school to regain its financial footing.
It was placed on probation by its accrediting agency in 2014 for a lack of sufficient financial resources. Its lender in April told the college its line of credit would not be renewed.
“These hurdles are insurmountable at this time,” Dean of Operations and Advancement Coralee Holm said in a statement. “It is with a great sense of loss to the educational community that Burlington College’s progressive and unique educational model will no longer be available to students.”
The school, founded in 1972, held graduation ceremonies on Saturday. Holm said its current students would be able to finish their degrees at other schools in the area.
The Associated Press contributed to this article.
Colleges and universities are usually run by academicians who have no experience or ability to run an organization. Colleges and universities are ultimately businesses and need someone skilled at running a large business to lead them.
What often happens is a college president is picked to lead and they govern based on the same “progressive” philosophies which have been proven losers in the business world. Many of the items on Bernie Sanders’ agenda are the same. They sound good but they will not work in the real world. Socialism just doesn’t work in the long run. It often removes any incentive for innovation or hard work and replaces them with complacency and mediocrity.
This article has nothing negative in respect to Sanders bringing down the $$$$ of the college….
NO, This is just her, Bernie is going to put America into a 3rd world, with all the spending he wants to do. College is not free, I’m not going to pay for it, Same with healthcare, I’ll pay for my own and my families bit not the whole world. And that’s what it would be because the borders would be wide open. America would turn to the wild west again or like Syria
I’m with you on all of this and so disappointed in all who are running! I can’t see free college but I could probably understand cutting the prices somewhat. Sanders wife took $200,000.00 from the college she worked at and now they are closed. I know so many kids that have gone to college and came out but can’t find a job so what good is college if there isn’t any jobs?
Since all assests of Bernie Sanders seem to be in name of his wife, this “family think tank thinking” could have bearing on the direction the nation might take. Most Presidents usually talk to their wives, ask their opinion on issues. It is not an official political process, but definitely this “bedroom influence” is something to consider.
It sounds better off than Trump University!!
Trump University has only suspended it’s classes. On the other hand it appears that Sanders University has gone belly up just like the country that Bernie and his wife honeymooned in, the former Union of Soviet Socialist Republics, aka Communist Russia for short.
He has visions of America being one big commune with Jane being in charge of the food!
He’s another Jim Jones. We will drink the kool-aid! Bam, his job is done!
Free college at public expense has some merit – as long as taxpayers only have to pay for the best and brightest students, who intend to pursue careers that we need. On the other hand, underwriting mediocre students on the premise that they have a right to other peoples’ wealth is corruption. Advancing them loans which they won’t be able to pay back is just payola for the educational establishment, and it misdirects them away from training which could actually benefit them. Furthermore, it’s a scandal that over 13 years (K-12) we can spend $200K and yet not teach a student enough to make a decent living.