Student Loan Theft

Just yesterday I posted about how buying a shredder really doesn’t make college students any more or less likely to become a victim of Identity Theft, and today, I find myself reading an article which proves exactly what I was saying.

Personal data may have been inadvertently mixed up if different users logged on at roughly the same time and performed the same Web site function, such as updating a home address. The department determined that less than one-half of 1 percent of the 6.4 million total borrowers — or roughly 21,000 — had logged on to the Web site between Sunday and Tuesday.

The Web site program includes names, birthdates, Social Security numbers, addresses, phone numbers and in some cases account information for holders of federal direct student loans.

Shredder companies are releasing statistics that would lead you to believe that buying a shredder would somehow help current and former college students to avoid this situation.
There are real solutions to this problem. The people who have been affected by this are being offered credit monitoring, but that’s just the first step in the process of making sure that your information, when used by someone else, can be easily restored.

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