Burlington College is closing for good next week. They can’t get a line of credit and can thank Mrs. Bernie Sanders for it! She followed Bernie’s policies of spend, spend, spend without reason and was forced to resign though she did with a $200,000 severance package.
She is Bernie’s political adviser and a social justice activist.
Politico reported that former Burlington College president Jane Sanders ran Burlington college into the ground for seven years (from 2004 to 2011). While she was in charge, it sank deep into debt while trying to expand its campus. Many students took out tens of thousands of dollars in loans to attend, but only a third of former Burlington College students earn more than the average person with a high school diploma.
Mrs. Sanders overstated donation amounts in a bank application for a $6.7 million loan that was used by the college to purchase a prime 33-acre property on Lake Champlain in 2010.
Sanders told People’s United Bank that the college had $2.6 million in pledged donations to support the purchase of the former Roman Catholic Diocese of Burlington property on North Avenue. The college, however, received only $676,000 in actual donations from 2010 through 2014, according to figures provided by Burlington College.
Her plan was to start a new campus and attract tons of new students though she had no reason to believe it would work. Her formula has failed throughout the nation.
Mrs. Sanders followed her husband’s spend, spend, spend policies without a thought as to how to make it work. This is what her husband could do for the entire country!
“When we need the best-educated workforce in the world, yes, we are going to make public colleges and universities tuition-free. And, for the millions of Americans struggling with horrendous levels of student debt, we are going to substantially ease that burden,” Sanders said famously.
Bringing down debt won’t solve the problem which is the unfettered spending by colleges and universities on amenities and other unnecessary expenses. They don’t try to keep costs down, they expect students to go into deeper debt.
Sanders thinks taxing Wall Street will solve it all but that’s for another article.
Meanwhile, Catholic parishioners went an investigation of her possible loan fraud. Whether it was bad judgment or criminal behavior has yet to be seen. The school had defaulted on the deal and the church lost between $1.5 million and $2 million but Burlington Bishop Christopher Coyne said he wants no part of the political battle and the church received millions more than the property is worth even with the loss.
Vt. parishioners want a federal bank fraud probe into Jane Sanders over loan deal that just brought down Burlington. https://t.co/FgvQi6TDf7
— Jillian Melchior (@JillianKayM) May 16, 2016