The collapse of Burlington College in 2016 was not simply the story of a small Vermont institution failing to manage its debt — it was the culmination of a loan application, a questionable set of pledge figures, and a United States Senate letter that together set a forty-four-year school on a path it could not survive. In this breakdown, Felmon examines how Jane Sanders' 2010 application to People's United Bank — which represented over six million dollars in donor support that federal investigators would later scrutinize — secured a ten-million-dollar land purchase that the college, with fewer than two hundred students, had no realistic capacity to absorb. When Burlington College closed its doors in May 2016, its own board cited the crushin …
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