EDUCARD®
EDUCARD is the Chamberlain College of Nursing interest-bearing installment loan program available to Chamberlain students as a source for paying tuition, book charges and any required electronic materials. Under the EDUCARD Plan, an affordable monthly installment payment plan is worked out to accommodate individual family circumstances as reflected in the FAFSA. EDUCARD participation requires students to apply for financial aid and to use funds received to first repay the EDUCARD balance.
The first monthly EDUCARD payment is due at registration. Delinquent payment may result in loss of borrowing privileges. If delinquencies are not resolved, students may be financially suspended from school. Any EDUCARD loan balance owed when a student leaves Chamberlain must be repaid within 12 months of the date attendance ceased, in accordance with installment loan provisions.
Failure to submit required financial aid paperwork and/or EDUCARD Plan payments within the required time period may result in termination of the agreement, with the balance due immediately.
Federal Student Aid Programs
There are three categories of federal financial assistance:
– aid that does not need to be repaid.
LOANS – aid that must be repaid, but generally not until students have graduated, enroll less than half time, or stop attending school.
WORK-STUDY – wage subsidy for part-time educationally related or student or community service employment.