student consolidation loan information

Nelnet data tape containing information on 188,000 customers lost by UPS

Lincoln-based student loan provider Nelnet Inc. says a computer data tape containing the personal information of as many as 188,000 customers has gone missing.The company said the tape, which included data on loans serviced by Nelnet that previously were 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.Lynnette McIntire, a UPS spokeswoman, said that while UPS cannot locate the tape, the company has no indication that the tape "has gone outside the UPS system."McIntire said UPS is working to allay any concerns Nelnet might have."Obviously this is extremely rare for us, and we feel terrible about it," she said.Ben Kiser, a Nelnet spokesman, said the tape originated from a Nelnet office in Aurora, Colo.Kiser said UPS notified the company in writing July 10 that it could not find the tape.Asked why Nelnet did not inform the public about the missing tape until a week later, Kiser said: "We are proceeding quickly, but in a sensible manner that ensures that we are in the best position possible to support our customers and follow the applicable state and federal privacy laws".Nelnet in November 2005 took over the student loan servicing and guarantee operations of College Access Network, which is the Colorado state-designated guarantor of student loans and administers the federal Family Education Loan Program, providing federal Stafford, PLUS and consolidation loans to students and parents through private lenders. Nelnet said it is notifying its potentially affected student loan customers, as well as other lenders whose customers may be affected.

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Counting Down the Hours Until Student Loan Deadline

PASADENA, Calif., June 27 /PRNewswire/ -- As many student loan borrowers already know, interest rates for all federal student loans will be increasing by around 2 percent on July 1.

For most student and graduates with education loans, this increase will cost tens of thousands of dollars in added fees and interest.

However, many savvy borrowers have taken advantage of a free government program to save this money and eliminate a few financial worries, as well: student loan consolidation.

Student loans can be consolidated until 11:59 p.m. on Friday, June 30. Consolidation allows borrowers to lock in a low interest rate for the life of their loans and make just one, low monthly payment for the duration of the repayment period.

As the federal deadline approaches, student loan consolidation companies are being swamped with requests for information on this program.

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