nelnet student loan
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Nelnet computer tape missing
Lincoln-based student loan provider Nelnet Inc. says a computer data tape containing the personal information of as many as 188,000 customers is missing.The company said the tape, which included data on loans serviced by Nelnet that were previously serviced by the College Access Network between Nov. 1, 2002 and May 31, 2006, was in possession of United Parcel Service and cannot be located. Nelnet said in a statement that it is notifying its potentially affected student loan customers, as well as other lenders whose customers may be affected. Those customers may call a dedicated toll-free number at 1-800-552-7925 if they have any concerns or questions.Nelnet did not say when the tape was lost or if it was picked up in Lincoln, and company representatives could not be reached Tuesday morning.The company said it has no reason to believe any information has been used inappropriately, and has not received any reports of unauthorized activity. Though UPS cannot locate the package, Nelnet said there is no indication that the package left UPS’s control at any time. "We deeply regret this unfortunate incident and are making every effort to inform our customers of the missing data tape and to assist them in protecting their identity," Matt Hall, Chief Operating Officer of Nelnet’s Education Services division, said in a statement."Tapes of this nature require sophisticated equipment and data-mapping for information to be accessed. The process used to create these tapes is no longer utilized," said Ray Ciarvella, Nelnet Chief Information Officer. "Though our current policies meet or exceed industry security standards, we are thoroughly reviewing them to protect every customer."
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More nelnet student loan info
Nelnet buys educational recruitment, retention company
Nelnet paid $40 million in cash, but may pay more in the future if CUnet meets certain performance targets, the company said in a news release.The sale is scheduled to become final July 1, after which CUnet will become a wholly-owned subsidiary of Nelnet, and will retain its identity, management team and office locations in Wyckoff and Rochester, N.Y. The company employs about 65 people.CUnet provides more than 1,000 campus locations and online schools with materials and services to enhance their brands, and improve student recruitment and retention, according to the news release. "We are excited to join forces with the CUnet team," said Steve Butterfield, Nelnet vice chairman and co-chief executive officer. "CUnet expands the education-related services and products we offer colleges and universities, complementing our initiatives to match college-bound students with higher education institutions."Nelnet said in the release that the acquisition of CUnet is not likely to have a positive effect on net earnings for at least three years.The purchase of CUnet continues Nelnet’s aggressive acquisition strategy over the last few years.The company is among the nations leaders in terms of total net student loan assets with $21.3 billion as of March 31.
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