Yahoo: Burlington College is the latest casualty in a growing list of private liberal arts colleges that have collapsed under financial struggles and lagging student enrollment.
The school announced its closure in a statement Monday, blaming the move, in part, on the “crushing weight” of debt it incurred after a 2010 real estate purchase arranged by then-president Jane Sanders, wife of Democratic presidential candidate Bernie Sanders.
Jane Sanders served as president from 2004 to 2011 and left her post after a dispute with the college’s board over her decision to buy 30-plus acres of lakefront property from the Archdiocese of Burlington to expand the campus and attract new students. The move was unsuccessful.
At the end of Jane’s run, the school reported 19.4% of pupils were in default on their student loans three years after graduating, according to data from the National Center for Education Statistics. That rate fell to 7% in 2012, the year after Sanders departed (and the latest year for which data is available). According to a February report by Politico, only one-third of Burlington College graduates earned more than someone with a high school diploma. The cost of attendance (tuition and room and board) runs nearly $38,000 per year.
#VermontSoWhite that Burlington didn’t even have a BLM chapter to protest the closing.
Example: Socialists ideology put into practice.
We just went through eight years of a hideously ugly first lady.
This bitch is even more painful to look at.
Old, ugly, and ignorant inside and out.
Ugly, without a doubt but she exemplifies the financial shrewdness of liberals everywhere.
Wait for the lame stream media to
(a) ignore the story
(b) find a way to make it Trump’s fault
(c) blame it on local Catholic parishioners
There is so much more to this story that is not being reported. In order to secure bank loans to buy that 30+ acres, Jane Sanders lied to the banks about the level of capital already raised from alumni. In other words, she “imagined” the collateral — it did not exist. In my world, this is called fraud, and people go to jail for it. Jail is exactly where Janey-girl should be.
Perhaps she thought that once she secured the loan, alumni would get so excited about the expansion that they would then step up and give a buncha cashola, but obviously she forgot that liberals only spend other people’s money; they are stingy as hell with their own. Anyhoo, Janey got out WITH a golden parachute before the college collapsed. She is as crooked as crooked Hillary.
I saw this article on one of the FB pages I follow, and there was one chowderhead saying it was because Burlington couldn’t compete with the other schools in the area, and was defending Sanders by saying she left in 2011 so it closing now couldn’t possibly be her fault. The deflect the blame game is in full swing out there.
Who thought it was a good idea to put a socialist in charge of a capitalist enterprise?
Heaven forbid those professors get a real job.
One wonders how many alumni have jobs other than ‘Would you like fries with that’?
To collectivists, debt is never their own fault, and always somebody else’s responsibility.
At best Burlington College could be termed as an “alternative college.” It was always only a few steps away from financial collapse almost from the beginning. The thought process that would lead them (Jane, that is) to believe that to make a $10 million investment in lake front property would lead to a doubling of enrollment (from 200 to 400) leveraged to the hilt is breathtaking. The Catholic Diocese is still on the hook for $1.5 million. A local developer purchased most of the property earlier this year and, evidently, has a behind the scene agreement, negotiated last year, to purchase the rest of the property now that the College has closed.
Well maybe now the college can go forward actually contributing something meaningful to society like a parking lot.
Socialism: Turning everything it touches into SHIT!
izlamo delenda est …
… ’til you run out of other people’s money. h/t Maggie Thatcher
did their journalism dept. bother to research whose property she was wildly overpaying for ?
Curious, she did not blindly over pay for the property. Most likely it was actually below market value. It is one of the last two large tracts of waterfront property in the City of Burlington (and both are/were owned by religious organizations). What was “wild” was that a small private college only a banana peel away from financial collapse, with no wealthy alumni, could find the where with all to handle a $10 million investment. Unsaid, and publicly denied, is the fact that the only thing that Jane had to offer to support this purchase was that her husband was a US Senator!
@Arby – then she DID blindly overpay. If there was no way the school could afford the price that by definition is overpaying.
Well, sometimes I self-identify as a libtard just wildly shoot my mouth off with out reading the whole story.
Just look at the crap they sold for $38,000 a year!
No math, no science, nothing even remotely practical except maybe wood shop that probably requires some arithmetic.
Imagine a college degree in how to be a SJW, organize a protest party, film it, narrate it using “transpersonal” psychology and you got a bucket of stupid right there. No wonder the graduates end up making less money than high school drop outs.
Just look at this crap!
Undergraduate Degrees:
Bachelor of Fine Arts, Film Production, Graphic Design, Interdisciplinary Arts, Photography, Woodworking and Fine Furniture-Making
Bachelor of Arts
Film: Cinema Studies, Film: Documentary Film making, Film: Production, Film: Screenwriting, Expressive Arts,
Fine Arts, Tourism and Event Management, Human Services, Individualized Major, International Relations
Legal and Justice Studies, Photography, Transpersonal Psychology, Writing and Literature
Associate of Arts
Film Studies, Graphic Design, Liberal Studies, Woodworking and Fine Furniture-Making
Professional Certificates
Documentary Film making, Event Planning, Film Production, Paralegal Studies, Screenwriting, Woodworking and, Furniture-Making, Advanced Fine Furniture-Making
From the looks of her in the picture, I can understand why the college collapsed.
Shockingly, $38K a year is a bargain compared to many private colleges…but obviously not a bargain compared to what awaits alumni after graduation.
Is that one of them “Trans” people?
That picture looks like Bernie and his twin brother in drag!