BofA’s Bet on Small College’s Bonds Poised for Loss Post-Closure

The anticipated sale of a shuttered college campus in Ohio means Bank of America Corp. will likely recoup some of its investment two years after closure — but that still might not be enough to recover the full $18 million it’s owed.

Located outside of Cleveland, century-old Notre Dame College closed its doors in 2024 due to declining enrollment and a debt load that administrators described as significant.