The Washington Post reports:
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 her presidency.According to The Burlington Free Press, Dean of Operations and Advancement Coralee Holm said the college faltered under the "crushing weight of the debt" incurred after the school in 2010 purchased 32 acres of lakefront property from the Archdiocese of Burlington.
She added that the college's lender, People's United Bank, in April told Burlington College it would not renew the school's line of credit.
In response to reporters' questions about a law enforcement probe into the college's finances, Holm and Moore declined to comment.
Jane Sanders was president of the college from 2004 to 2011.
The college had enrolled 224 students as of fall 2014