Bernie Sanders’ wife, Jane Sanders was president of Burlington College from 2004-2011, during which time she took a large financial risk by trying to expand the college and purchased a plot of land from the local Roman Catholic diocese for $10 million. The Vermont Senator’s wife planned to repay the debt by increasing enrollment and beefing up fundraising, both ventures ended with failure.
In 2011, Sanders was terminated and given a $200,000 severance, but too much damage had already been done. The school was $11.4 million in debt, with $300,000 in unpaid bills by 2015. Most of the land Sanders acquired was sold off to try to help with the school’s financial situation. Unfortunately, the school Sanders ran into the ground will be closing its doors at the end of the month.
Sen. Bernie Sanders’ wife made a big-ticket purchase during her tenure as head of a small, private college in Vermont — and, in the end, the institution got burned.
Burlington College, which Jane Sanders ran from 2004 to 2011, will close its doors on May 27 due to financial and accrediting problems, it was announced Monday. The college has about 70 students.
Jane Sanders’ tenure as president of the tiny school in Burlington, Vt., saw it make a bold real estate purchase to replace its cramped quarters: Sanders spearheaded a deal to buy 33 acres along Lake Champlain, in hopes that the scenic property would help the college attract new students and donors. To pay for the prime lakefront land, the college used $10 million in bonds and loans, according to reports by the Burlington Free Press.
But the large expenditure didn’t pan out, Sanders resigned the following year, and her successors could not save the college from financial ruin.
The school had a little over 100 full-time students with a total graduate and undergraduate enrollment of less than 500 students. Amassing a $10 million dollar debt made no sense and utterly destroyed the school.
Bernie Sanders’ plans to increase government spending to cover his left wing goodie bag items are sure to take the country down the same path of financial ruin. The self-described Democratic socialist plans on increasing spending $33 trillion over the next ten years with no plan on how to pay for his left wing, Candy Land vision for this country. This is the candidate and wife the Democrats want running the country.