Recent Data Theft Could Affect 5% of Federal Student Loan Borrowers

Mar 29, 2010

Names, addresses, Social Security numbers and other identity data were stolen last week from a nonprofit guarantor of federal student loans. The thieves nabbed information on 3.3 million student loan borrowers.

View popular schools

identity theft, student loan data theft

ECMC, a nonprofit guarantor of federal student loans, recently announced that a portable media device was stolen from a secure area in the company's headquarters during the weekend of March 20-21. The device contained personal information, including names, addresses, birth dates and Social Security numbers, for 3.3 million student loan borrowers.

The stolen information, which did not include savings account, checking account or credit card numbers, may be used by the thieves to apply for loans and credit cards. The information may also be used to assemble lists or portfolios for other identity theft schemes. However, no misuse of the data has been reported as of yet.

ECMC, which is the designated guarantor for loans in Connecticut, Oregon and Virginia, services and insures an estimated $11 billion in federal student loans. Federal officials suspect that the theft could affect more than 5% of federal student loan borrowers in all states.

identity theft victim, ecmc data theft

Find schools that offer these popular programs

  • Banking Related Services
  • Credit Management
  • Financial Mgmt Services
  • Financial Planning Services
  • International Finance
  • Investments and Securities
  • Public Finance Mgmt

How to Determine If You Are Affected

The U.S. Department of Education is working closely with ECMC to help students get identity theft insurance and other resources they need to protect their personal information. Affected student loan borrowers will be receiving written notification from the ECMC within the next two weeks. Notifications will include a special code that allows students to get free credit protection services from Experian for 12 months.

If you would like to determine whether or not you are affected now rather than waiting for the notification, you can follow the steps below:

You can also learn more by calling ECMC at 1-877-449-3568 between 9:00 a.m. and 9:00 p.m. EST. But you must do it personally. The company will only speak to affected individuals (not representatives for the affected individuals) due to legal restraints.

Next: View Schools

What is your highest level of education?

Some College
Complete your degree or find the graduate program that's right for you.
High School Diploma
Explore schools that offer bachelor and associate degrees.
Still in High School
Earn your diploma or GED. Plan your undergraduate education.

Schools you may like:

Popular Schools

The listings below may include sponsored content but are popular choices among our users.

    • Master of Business Administration

    What is your highest level of education?

  • What is your highest level of education completed?

    • MS in Finance - Financial Analysis
    • MS in Finance
    • MS in Finance - Financial Planning
    • MBA - Finance
    • MS in Accounting
    • MBA
    • BSFIN in Investments
    • BSFIN in Accelerated MS Finance
    • BS in Finance
    • BSFIN in General Finance
    • BS in Business Administration - Financial Analysis
    • BS in Accounting - Managerial Accountancy
    • AAS in Accounting
    • AAS in Business Administration
    • AAS in Business Admin-Office Management
    • Executive Leader Graduate Certificate

    What is your highest level of education completed?

  • What is your highest level of education?

    • Master of Science in Finance

    What is your highest level of education completed?

  • What is your highest level of education completed?

    • Master of Business Administration - Finance
    • Master of Business Administration
    • Master of Business Administration - Custom/General
    • Master of Business Administration - Multiple Concentrations
    • Master of Business Administration - Strategic Leadership

    What is your highest level of education completed?

  • What is your highest level of education?

    • Business Administration - DBA (Doctorate)
    • Finance - MBA (Master's)
    • Accounting - MBA (Master's)
    • General Business (MBA)
    • Finance - Bachelor
    • Accounting - Bachelor
    • Accounting - Associate
    • Business Administration - Associate

    What is your highest level of education?

    • Master of Science in Accounting
    • Master of Business Administration in Taxation
    • Master of Science in Taxation
    • Master of Business Administration in Interdisciplinary Business
    • Master of Business Administration in Risk Management & Insurance

    What is your highest level of education?

Find your perfect school

What is your highest level of education?