Here are the Facts: Student Loan and Graduation Rate

Many of you may have seen posts on social media from a private debt relief company, called Relieve Student Loans (aka Student Loan Services/Goodbye Loans.com) with headlines such as “Predatory Practices at Chamberlain College of Nursing.”  The content presented in their posts contains inaccurate and false information.  It does not contain any real or factual data about Chamberlain College of Nursing.  This is the company’s tactic to obtain student loan debt relief business through scare tactics.

Here are the facts:

Chamberlain College of Nursing is a successful nursing college dedicated to academic excellence and student success.  Our college continues to grow (in both campus locations and new programs offerings) to serve the needs of our students.  Our most recent student loan default rate published by the Department of Education is 5.8% This rate is much lower than the national average for all schools of 13.7%.  Chamberlain’s graduation rate for full-time students is 72%.

Please be informed. The Department of Education posted a blog reminding students that loan debt relief companies charge fees for services that you can get for free.  You can apply for loan consolidation through www.studentloans.gov. The application is free, and there are no extra fees. In addition, the Illinois Attorney General has filed a lawsuit against a number of student loan debt relief companies accusing them of scamming students.

If you have any questions regarding your student loans or your financial aid package, please contact your student loan servicer or your Chamberlain College of Nursing student services or student finance representative.

For more information on student loan debt relief companies, please visit the Consumer Financial Protection Bureau’s website.

By Natalie Sobolewski