Burlington College to shut down programs
Source: Burlington Free Press
Zach Despart, Free Press Staff Writer 11:54 a.m. EDT May 16, 2016
After years of financial trouble, Burlington College announced Monday the school will shut down its academic programs.
"It is with great sense of loss to the educational community that Burlington College's progressive and unique educational model will no longer be available to students," Dean of Operations and Advancement Coralee Holm said in a statement.
The college's Board of Trustees voted on Friday to close the school's programs effective May 27.
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.
Read more: http://www.burlingtonfreepress.com/story/news/local/2016/05/16/burlington-college-shut-down-programs/84439890/
Sad to see this happen to a previously thriving college.
onehandle
(51,122 posts)When Jane Sanders was in charge of a small private college in Vermont for seven years, 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 their investment was questionable: Only a third of former Burlington College students earn more than the average person with a high school diploma.
http://www.politico.com/story/2016/02/bernie-sanders-jane-vermont-burlington-college-219114
It's just hilarious to you, isn't it?
Maybe they can get a loan, at 300% interest, from the Clinton Foundation....
6chars
(3,967 posts)Like many small colleges, Burlington faced major challenges and tried to figure out how to overcome them, but the odds are pretty tough these days.
http://vtdigger.org/2011/09/13/burlington-college-grapples-with-growing-pains/
George II
(67,782 posts)"After Sanders became college president in 2004, Burlington College initially experienced a decline in enrollment and, after a few years, faculty discontent. In an open letter to the trustees released on Sept. 21, former faculty member Genese Grill described the atmosphere in harsh terms. Staff, faculty and students have been reduced to silence and fear of retribution by what can only be described as a pattern of intimidation, spying, and targeting of critical voices, she wrote."
Sound familiar?
6chars
(3,967 posts)sounds like my boss! lol
no, that management style could certainly lead to organizations making big mistakes. but this is not the only small college biting the dust this year.
Angel Martin
(942 posts)have been reduced to silence and fear of retribution by what can only be described as a pattern of intimidation, spying, and targeting of critical voices,
Hillary Clinton Health Care Task Force ?
yardwork
(61,813 posts)riversedge
(70,475 posts)George II
(67,782 posts)hughee99
(16,113 posts)liberal N proud
(60,352 posts)Raine1967
(11,589 posts)I am assuming it is a four year school. What happens to the undergrads that are already there?
LisaM
(27,863 posts)This is a sad story and it sounds as if it didn't need to happen.
Raine1967
(11,589 posts)I am really saddened about this. I have friends who are alumni from there.
George II
(67,782 posts)...they're in financial trouble:
JANE SANDERS OVERSTATED DONATION AMOUNTS IN LOAN APPLICATION FOR BURLINGTON COLLEGE
SEP. 13, 2015, 3:35 PM BY MORGAN TRUE
Former Burlington College president Jane 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 Peoples 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.
Thats far less than the $5 million Sanders listed as likely pledges in the loan agreement, and less than a third of the $2.14 million Sanders had promised Peoples Bank the college would collect in cash during the four-year period.
Two people whose pledges are listed as confirmed in the loan agreement told VTDigger that their personal financial records show their pledges were overstated. Neither were aware that the pledges were used to secure the loan.
(that's the 4 paragraph guideline, much more at the link)
http://vtdigger.org/2015/09/13/jane-sanders-overstated-donation-amounts-in-loan-application-for-burlington-college/
moosewhisperer
(114 posts)I'm no expert...sincerely asking
George II
(67,782 posts)....the correspondence and documentation used to justify the loan. But up in Vermont it has been a big story for years, and the fact that Burlington College now has serious financial problems it will only become bigger.
azurnoir
(45,850 posts)as the collage will retain accreditation until January 2017
George II
(67,782 posts)azurnoir
(45,850 posts)is premature and seeing as the only reason it might lose accreditation is it's financial woes as opposed to academic reasons, an infusion of money would the curative
George II
(67,782 posts)Well be going through the actions to close things up here, Dean of Operations and Advancement Coralee Holm said at a news conference on the college campus.
At the news conference, Holm and President Carol A. Moore said they were "heartbroken" to announce the college's closure. Holm said about 30 faculty and staff, including herself, will lose their jobs. Holm added the state Department of Labor will assist former employees with finding new careers.
The school will cease operations by May 27, Holm said.
It's not premature, apparently they don't have the finances to remain viable. Now, if there is some benefactor out there, perhaps this announcement would prompt him/her to come to the rescue by May 27?
But once closed, with the dismissal of the faculty and staff, the college is basically surrendering its accreditation.
Sad, especially since one other article on the subject said that their finances were "stable" until the real estate transaction.
Gloria
(17,663 posts)eom
riversedge
(70,475 posts)Raine1967
(11,589 posts)tammywammy
(26,582 posts)It will hurt the juniors and seniors most and those that had scholarships. Hopefully there are schools close by they can transfer into without many issues (same major and classes required, cost similar or less, etc).
CrowCityDem
(2,348 posts)trudyco
(1,258 posts)Or the billions collected by the Clinton foundation, and who knows how much from whom in the Canadian Clinton Foundation - since they won't divulge anything?
Or the 2 million which became 500,000 donated to a for profit energy company by the non-profit Clinton Global Initiative? A company that was partially owned by "a very close friend" of Bill and the husband of Huma, Hillary's employee involved in the email scandal.
Not to excuse what Jane Sanders did, assuming she did what is on the surface of the story. But it's small chump change compared to what the Clintons have done.
elehhhhna
(32,076 posts)George II
(67,782 posts)elehhhhna
(32,076 posts)George II
(67,782 posts)msongs
(67,509 posts)yardwork
(61,813 posts)cali
(114,904 posts)The student body has always been working adults who are part time and struggling financially. That sais, Jane Sanders killed it off with that real estate deal. What's sad is that in the years prior to that she grew the school.
Adrahil
(13,340 posts)She's always struck me as a smart and capable.... what the heck happened there!?
LisaM
(27,863 posts)This article is a little long, but worth the read.
http://quadrant4.org/docs/janedemo.html
A sampling of some of the problems the writer of the article summarized:
Orchestrating the formal approval of a budget (1996-7) that eliminated essential services, was politically retaliatory in nature, and excessively costly in administrative overhead
Ensuring approval at the board level of what amounted to a faculty purge -- the termination of 16 employees in 1996
Suppressing criticism and stifling dissent
I think the people at Burlington College should have done better due diligence.
George II
(67,782 posts)"The school's finances were relatively stable at the time of the real estate transaction."
http://www.sevendaysvt.com/vermont/pass-or-fail-what-happens-if-burlington-college-drops-out/Content?oid=2420094
George II
(67,782 posts)http://vtdigger.org/2011/09/27/jane-sanders-resigns-presidency-of-burlington-college-reaches-settlement/
misterhighwasted
(9,148 posts)Students could learn woodworking, a course taught by Sanders' daughter.
Smells like a whole lot of cronyism.
IRS please!
LannyDeVaney
(1,033 posts)She is
1. a campaign advisor (From March <<"She's one of his most trusted advisers, if not the most trusted adviser," said Sanders' senior adviser, Tad Devine.>>
2. the preparer of his tax returns according to Sanders himself (now with a documented history of questionable financial decisions).
This is bad press for his campaign, especially with student debt being such a big issue, and with "fighting a rigged system" being a big part of the Sander's stump. The real estate loan issue touches both in my opinion.
Human101948
(3,457 posts)Obviously they are missing this criminal act!
jmowreader
(50,603 posts)Human101948
(3,457 posts)Most recently they had about 200 students.
It seems like many colleges they raised tuition to pay for expansion, but in this case it did not results in attracting more students.
Divernan
(15,480 posts)Jane Sanders, who led Burlington College from 2004 to 2011, spent millions on a new campus 33 acres along the bank of Lake Champlain to attract more students and donations from alumni. It didnt work: The college failed to recruit enough students or donations to repay its debts and even came close to losing its accreditation.
Its a formula that has failed colleges and universities across the country.
The idea is very common: Were going to create a new campus, thats going to drive interest and alumni giving will go up, said Alexander Holt, policy analyst at New America. The problem is that, as small, private colleges compete for prestige and students, they may take on too much debt and wind up worse off, Holt said.
Read more: http://www.politico.com/story/2016/02/bernie-sanders-jane-vermont-burlington-college-219114#ixzz48r31etTO
Human101948
(3,457 posts)Clinton, along with Samantha Power, the U.S. ambassador to the UN, and Susan Rice, the Obama administrations national security advisor, has pushed for muscular interventions without thinking or caring about the consequences.
And those consequences have been dire.
Afghanistan: Somewhere around 220,000 Afghans have died since the 2001 U.S. invasion, and millions of others are refugees. The U.S. and its allies have suffered close to 2,500 dead and more than 20,000 wounded, and the war is far from over. The cost to the treasury alone runs close to $700 billion, not counting long-term medical bill that could run as high as $2 trillion.
Libya: Some 30,000 people died and another 50,000 were wounded in the intervention and civil war. Hundreds of thousands have been turned into refugees. The cost to Washington was cheap at a cool $1.1 billion, but the war and subsequent instability created a tsunami of weapons and refugees and the fighting continues. It also produced one of Clintons more tasteless remarks. Referring to Gaddafi, she said, We came, we saw, he died. The Libyan leader was executed by having a bayonet rammed up his rectum.
Ukraine: The death toll now exceeds 8,000, some 18,000 have been wounded, and several cities in the eastern part of the country have been heavily damaged. The fighting has tapered off, although tensions remain high.
Yemen: Over 6,000 Yemenis have been killed and another 27,000 wounded. According to the UN, most of them are civilians. Ten million Yeminis dont have enough to eat, and 13 million have no access to clean water. Yemen is highly dependent on imported food, but a U.S.-Saudi blockade has choked off most imports. The war is ongoing.
Iraq: Anywhere from 400,000 to over 1 million people have died from war-related causes since the 2003 invasion. Over 2 million have fled the country and another 2 million are internally displaced. The cost: close to $1 trillion, but it may rise to $4 trillion once all the long-term medical costs are added in. The war grinds on its latest incarnation: a bloody turf war with the Islamic State, which emerged from the Sunni insurgency against the U.S.-installed government.
Syria: Over 250,000 have died in the war, and half the countrys population has been displaced including four million Syrian refugees abroad. The countrys major cities have been ravaged. The war, like the others, is ongoing.
There are other countries like Somalia that one could add to the butcher bill. Then there are the countries that reaped the fallout from the collapse of Libya. Weapons looted after the fall of Gaddafi largely fuel the wars in Mali, Niger, and the Central African Republic.
http://www.commondreams.org/views/2016/02/03/adding-costs-hillary-clintons-wars
Divernan
(15,480 posts)On Christmas Eve in 2011, Hillary Clinton and her closest aides celebrated a $29.4 billion sale of over 80 F-15 fighter jets, manufactured by U.S.-based Boeing Corporation, to Saudi Arabia. In a chain of enthusiastic emails, an aide exclaimed that it was not a bad Christmas present.
These are the very fighter jets the Saudis have been using to bomb Yemen since March 2015. A year later, at least 2,800 Yemeni civilians have been killed, mostly by airstrikes and theres no end in sight.
The indiscriminate Saudi strikes have killed journalists and ambulance drivers. Theyve hit the Chamber of Commerce, facilities supported by Médecins Sans Frontières (also known as Doctors Without Borders), a wedding hall, and a center for the blind. The attacks have also targeted ancient heritage sites in Yemen.
International human rights organizations are saying that the Saudi-led strikes on Yemen may amount to war crimes.
During her tenure as secretary of state, Clinton made weapons transfers to the Saudi government a top priority, according to a new report published in The Intercept. And even while Clintons State Department was deeply invested in getting weapons to Saudi Arabia, the Clinton Foundation accepted millions of dollars in donations from both the Kingdom of Saudi Arabia and the weapons manufacturer Boeing. Christmas presents were being gifted all around.
Despite the brutal attacks on Yemen and its egregious domestic human rights violations, Saudi Arabia remains the number one U.S. ally in the Arab world.
While the original U.S. interest was to secure Saudis vast oil reserves, today only 10 percent of oil used in the United States comes from the kingdom. Instead, U.S. dependence on Saudi oil has been superseded by U.S. dependence on weapons sales.
TexasBushwhacker
(20,257 posts)Unless you are a professional with a private practice of some kind, most small businesses have to grow to a certain size to be sustainable, and to do that they have to take on debt. Burlington College had been struggling for many years. They had presidents come and go.
FWIW, it's not like Jane Sanders took out an unsecured loan to pay bills. The loans were for prime real estate, and when it was apparent they weren't going to be able to turn things around fast enough, about 80% of the acreage was sold. They are failing because they are just too small. 30 instructors and admins for 200 students just isn't systainable., with or without the debt.
George II
(67,782 posts)down to under 150. Remember she's been out for about five years. But her salary increased each year, up to a top of $150,000 and tuition rose about $5000 a year.
Recursion
(56,582 posts)Unfortunately nobody seems to have yet found a non-predatory business model that works for working adults who want to go to school part-time (the places it does "work" are the rip-offs like ITT or DeVry).
In big enough cities you can have "extension" focused universities like GMU is in DC, but that needs both a large market to draw from and a big traditional student body.
SunSeeker
(51,824 posts)by CORKY SIEMASZKO
The tiny Vermont college that Bernie Sanders' wife used to run is going out of business done-in by a $10 million real estate deal that she spearheaded.
Burlington College, which had been crushed beneath weight of the property purchase made in 2010 while Jane Sanders was college president, will close at the end of the month, the college confirmed on Monday.
http://www.nbcnews.com/news/us-news/college-debt-school-bernie-sanders-wife-once-ran-forced-shut-n574841
George II
(67,782 posts)SunSeeker
(51,824 posts)CreekDog
(46,192 posts)Apparently, irreparably.
George II
(67,782 posts)...loss not counting all the expenses to buy and sell it. I wonder who the agents were?
brooklynite
(95,060 posts)Apparently they fired the webmaster first...
UtahLib
(3,179 posts)Skittles
(153,321 posts)nothing to see here folks; move along
http://www.nbcnews.com/news/us-news/college-debt-school-bernie-sanders-wife-once-ran-forced-shut-n574841
George II
(67,782 posts)...to dry don't think there's "nothing to see here".
Gothmog
(146,018 posts)The national press does not believe that Sanders will be the nominee and so has spent little or no time vetting Sanders.
George II
(67,782 posts)Gothmog
(146,018 posts)Response to George II (Original post)
Name removed Message auto-removed
SidDithers
(44,228 posts)Sid
Democat
(11,617 posts)Sanders may be the Democratic nominee, how about supporting the candidate that you prefer instead of bashing one of the Democrats?
question everything
(47,615 posts)All the jury hiding of posts that are negative about Sanders but keeping the worse offensive ones about Clinton.
And... Sanders is not a Democrats, never has been, has actively campaigned against Democratic candidates including calling for someone to run against Obama in 2012.
Democat
(11,617 posts)I can't even report posts anymore on DU because I report anyone bashing Democrats outside of the Primaries forum - Sanders or Clinton.
I am happy to vote for either candidate and I would like to see the DU admins make a policy against Democrat bashing outside of the Primaries forum.
I am here to beat Trump, just like I was here to beat Bush. Either Democratic candidate would be great compared to a Trump presidency.