Personal Data on 3.3 Million Student-Loan Borrowers Is Reported Stolen
source: http://chronicle.com/article/Personal-Data-on-33-Million/64870/
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- PigFarmington
- added this
Guarantee agencies such as ECMC are the private entities that, under the U.S. government's system of federally subsidized student loans, collect government money and then turn around and pay it to private loan companies when borrowers default on their student loans.
ECMC said in a written statement that the affected borrowers would be notified and given free credit protection and monitoring services. "We deeply regret that this incident occurred and the stress it has caused our borrowers," ECMC's president and chief executive, Richard J. Boyle, said in the statement.
ECMC's admission of the data theft came one day after Congress voted to shut down the bank-based system of student lending in favor of direct lending by the Education Department, in part because of the cost and complexity of the bank-based system.
The data theft "occurred sometime during the weekend of March 20-21," the company said in its statement. The company was instructed by the FBI not to discuss the matter publicly until Friday, according to the Education Department.
"Protecting student privacy is a top priority for the department," said Justin Hamilton, a department spokesman. "We are working with ECMC to make sure that affected individuals are provided with resources to protect their information and to provide them with identity-theft insurance."
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- tags:
- College, Student Loans
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PigFarmington
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"Breach" hahaha
Not 3 years ago, in college, I threw something in the recycling bin at my educational services building, and saw a huge stack of dot-matrix old styled print-outs with names on them.
Think it was odd, I investigated further.
The printout was as tall as the (two wheeled, curb-side, styled) recycling bin.
Noticing the names were in alphabetical order, I promptly when to the 'C's
Sure enough, there was my name, social security # and the amount of financial aid I received that year.
I was angry, yet I was laughing at how ridiculous it was.... so I went to the fin aid dept, close by (in the same building).
I told them about it, and all they said was "oh that shouldn't be, we'll take care of it".
I demanded that they remove it now.
Angry that I was disturbing them, they said fine, then asked "WHAT WERE YOU DOING LOOKING IN THE RECYCLING BIN?"
Uhhhh recycling something! They then blamed it on a work-study, and assured me it's never happened and will never happen. I asked how can they be sure it's never happened... blank stare.
I made them shred mine while I watched.In hind-sight, I wish I would have gathered the print-out and drove it to the local news paper and/or police station. They got off too easy.
- 2 years ago
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PigFarmington
