He graduated cum laude from the Honors Economics program of the Ateneo de Manila University in 1978.
Court cases, however, forced the Bangko Sentral ng Pilipinas to shut it down on April 26, 2000.
Over the years that followed, the numerous court cases that came upon Borlongan, including charges of economic sabotage—then punishable by the death penalty, and what he thought was his failure to obtain justice from those who he accused as allegedly responsible for Urban Bank's permanent closure ultimately drove him into depression.
[citation needed] On April 11, 2005, he brought flowers to the graves of his late parents and brother at the Loyola Memorial Park in Marikina.
He was four days short of his 50th birthday, leaving behind his wife, Dolly, and their four young children, Katherine, Jonathan, Christopher and Stephanie.