Burlington College, a Vermont liberal arts college, is officially closing down, citing debt from its 2010 purchase of over 30 acres of land from the local archdiocese. The school was led by Jane Sanders, wife of Democrat presidential candidate Senator Bernie Sanders from 2004 to 2011.
The school was placed on probation in 2014 by its accrediting agency for lacking resources, and officials say it’s unlikely that they will be reaccredited.
The college applied for a $6.7 million loan to purchase the property from the diocese, and borrowed $3.5 million from the diocese itself according to documents reported by CNN.
Its operations will be ceased on May 27. All students currently attending the college will be able to attend a neighboring college and graduate as scheduled.