Vermont Business Magazine Burlington College announced today that it will discontinue its academic programs as of May 27, 2016, because of its ongoing financial struggles. In the statement below, the college said its lender has pulled out and acknowledged that it would likely lose its accreditation this summer. The college began as a mostly film-related institution in Burlington's Old North End before buying the former Catholic Diocese headquarters in 2010 and moving the college farther up North Avenue. However, it could never reconcile the cost of that move. Burlington College celebrated its 35th, and apparently final, commencement on Saturday, May 14. Burlington College founder Dr Steward LaCasce gave the commencement address to the class of 2016. He was also president of the college for 22 years.
Originally known as the Vermont Institute of Community Involvement when it formed in 1972, the school was dedicated to integrated learning, personal development, and engagement in the community to foster a comprehensive educational experience. Most of the first students would be considered non-traditional students, before the college became an accredited college with a resident student body.
Burlington Mayor Miro Weinberger said in reaction to the news: “Burlington College’s closing is a loss for our community. Although it has been clear for years that the college faced major financial challenges, many individuals and organizations, including the City, hoped today’s announcement would never come and worked to achieve a better outcome. Our thoughts are with those most impacted by today’s news – current students who have not yet completed their degrees and the committed college faculty and staff who will soon lose their jobs – and the City appreciates the proactive steps being taken to assist these groups.”
BURLINGTON COLLEGE STATEMENT
In recent years, Burlington College has struggled under the crushing weight of the debt
incurred by the purchase of the Archdiocese property on North Avenue. Through sales of property, the College has worked to reduce this debt to a manageable level.
In April, the College's lender informed the College it would not renew the College’s line of credit. The College relies on its line of credit to shoulder the cyclical nature of cash flow between semeseters.
Since July 2014, The College has been on probation with it's accrediting agency, The New England Association of Schools and Colleges (NEASC) due to not meeting its financial resources standard. The Federal Department of Education allows a college only two years of probation. Hence, we anticipate notice from NEASC that we have not met the Commission’s financial standard, and, therefore, our accreditation will be lifted as of January 2017, and the College will not be able to award academic credit after this time.
These hurdles are insurmountable at this time.
On May 13, 2016, the Burlington College Board of Trustees decided to close the College’s programs effective May 27, 2016.
The higher education community has extended their support to the College and all of our current students will be able to continue their education at a neighboring college and graduate as scheduled. Newly deposited students for fall 2016 will also be welcomed by colleges within Vermont, of their choosing.
It is with a great sense of loss to the educational community that Burlington College’s progressive and unique educational model will no longer be available to students.
About Burlington College
Burlington College, founded in 1972, is a small, progressive college which focuses on the individuality of each student and emphasizes experiential learning. The College's mission is to guide students to become skillful and reflective practioners, lifelong learners, and active citizens engaged in fostering a just, humane society and sustainable, beautiful communities. Recognized in 2013 by US News & World Report for it's high rate of student internships, the College believes that experiential learning is critical to employment at graduation and beyond. Burlington College works with high schools to deliver dual enrollment and early college options and offers certificate, associate, bachelor, and master degrees.
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