Private Student Loans

Chamberlain College of Nursing Won’t Give Me My Transcript

Written by Steve Rhode

Question:

Dear Steve,

I took a private student loan in order to complete my last year of nursing school. I knew then that the loan would be expensive to pay off but I also knew that once I completed my masters it would be easier to pay off.

What I did not anticipate, is that the debt would be transferred and that this institution would place a hold on my transcripts until all financial obligations were met.

I was under the impression that as long as I remained in good payment standing that my transcript would be available. With that being said, I am now unable to continue schooling to meet continuous financial obligations. The school in question is Chamberlain College of Nursing which is a branch of DeVry University. They were recently purchased by another organization.

I would like to know is there a way to discharge this debt since they have changed the original terms and conditions?

Tyoshee

Answer:

Dear Tyoshee,

If you have a transcript hold that would indicate the debt owed is held by the school. Who exactly do you owe, what specifically is it for, and how much is the debt?

I need more information before I can give you guidance. However, this debt sounds less like an external private student loan and more like a school generated debt.

Please post your answer in the comments section below.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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