Burlington College Closes Due To “Crushing Weight of Debt” Acquired By Jane Sanders | Heat Street

*At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement.

As Heat Street reported last month, the college almost immediately fell short on its financial obligations as fundraising pledges and commitments Ms. Sanders cited in the loan agreements never materialized.

Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package.”

Source: BREAKING: Burlington College Closes Due To “Crushing Weight of Debt” Acquired By Jane Sanders | Heat Street

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