As president of Burlington College in Vermont, Jane O'Meara Sanders, wife of presidential candidate Sen. Bernie Sanders, incurred a "crushing weight of debt" during her tenure and now the school is forced to shutter its doors for good, reports Heat Street.

Like any good socialist, she ran out of other people's money:

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…

…  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. By 2014, because of its shaky finances and running deficits, Burlington College found itself placed on probation for two years by the regional accreditation agency.

At least she looked out for number one. How very socialist of her.

This week, the college announced that the debts were "insurmountable at this time" and will lose its accreditation. Because of this, Burlington's doors will close on May 27. Current students and newcomers will be absorbed into surrounding schools around Vermont. 

But the troubles aren't over for Mrs. Sanders, who is now facing an investigation of federal bank fraud by the Catholic parishioners who believe she intentionally misrepresented the amounts in fundraising pledges before purchasing the land. She promised $2 million in pledges while only actually raising $279,000.

There has been no response, so far,  from Mrs. Sanders nor the Sanders campaign concerning the report. A previous statement by a Sanders spokesperson called the allegations "recycled, discredited garbage." 

Kind of like socialism.

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