Student loan company: Data on 3.3M people stolen

A company that guarantees federal student loans said March 26 that personal data on about 3.3 million people nationwide have been stolen from its headquarters in Minnesota, reports the Associated Press. Educational Credit Management Corp. (ECMC) said the data included names, addresses, Social Security numbers, and dates of birth of borrowers, but no financial or bank account information. The data were on “portable media” that were stolen sometime last weekend, ECMC said in a statement. Company spokesman Paul Kelash wouldn’t specify what was taken but said there were no indications of any misuse of the data. The St. Paul-based nonprofit said it discovered the theft March 21 and immediately contacted law-enforcement officials, making the theft public when it received permission from authorities. ECMC said it has arranged with credit protection agency Experian to provide affected borrowers with free credit monitoring and protection services. Borrowers will be receiving letters from ECMC soon on how to sign up, gain access to fraud resolution representatives, and receive identity theft insurance coverage. ECMC is a contractor for the U.S. Department of Education to provide collection and document management services. It guarantees student loans through the Federal Family Education Loan program and provides support services for student loans that are in default or bankruptcy…

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