Investigation Grows Into Jane Sanders

Jul 11, 2017

Federal Investigators are looking into the loan that Burlington College obtained to buy land. Jane Sanders overstated the amount of pledged donations so the college could secure the loan. “Sanders signed a document saying that the college ‘expects to receive pledged amounts’ of about @2.27 million.” Two members of the Vermont’s bond issuing agency considered the balance sheet of Burlington College “not all that strong” and voted against the proposal. Just months after the loan went through, college trustees saw that donations were not coming in. During a board investigation, trustees found “Multiple donors were saying they had never committed to those amounts.” The loan became too much of a financial burden and drove the school to shut down in 2016.