The College of New Rochelle Faces Ongoing Bankruptcy Woes

Bankruptcy has become a common occurrence across most industries in the wake of the COVID-19 pandemic, and even the college community is beginning to worry. Many colleges shut down their campuses in March 2020 when COVID surfaced. Remote attendance and online classes became the new reality of doing business for many of these organizations.

The College of New Rochelle was in trouble long before COVID. In fact, the college filed for bankruptcy back in 2019. Since then, it's been an uphill battle for the school, which filed a new complaint against its treasurer-business manager.

The College of New Rochelle recently alleged former treasurer-business manager Keith Borge mismanaged funds. The complaint asserted Borge misappropriated unclaimed student loans and other assets. These added c...

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