Schools have to meet minimum NCLEX pass rates or they will lose accreditation. So, if those stats are accurate, this program won't be in business for much longer.
Commercial (investor owned) schools are in business to maximize profits for their investors. They spend more on marketing and recruitment than on instruction.. is this really what you want? Just to clarify - in academia, "private" means a college/university that is not supported by public funds (taxes), it does NOT mean commercial schools. So, private schools would include all the Ivy Leagues, faith-based, etc. On the other hand, ITT, Kaplan, Chamberlin (DeVry), U of Phoenix, etc are all commercial schools. They are selling tuition, not education.
If you want to learn more about this, here is a link College, Inc. | FRONTLINE | PBS