student loan consolidation law
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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.
More student loan consolidation law info
Last-Minute Consolidation Still Available for Law Students ...
PASADENA, Calif., June 30 /PRNewswire/ -- The deadline for student loan consolidation -- and thousands of dollars in savings -- is just hours away.
Although thousands of student-loan borrowers have taken action to consolidate their loans, thus avoiding the July 1 interest-rate increases, many have procrastinated and hesitated until the last moment.
Despite warnings from public and school officials, members of Congress, and financial experts, many consumers still have unconsolidated student loans.
For law students and attorneys, high-balance, unconsolidated loans could end up costing them tens of thousands of dollars in added fees and interest beginning tonight at midnight.
"It's just like holiday shopping," said Law School Loans CEO A. Harrison Barnes.
"Some people are going to have everything taken care of and wrapped up months ahead of time, and others are going to wait until the day before -- or even the day of -- the big event."
Barnes said that his company, which specializes in student loan consolidation for J.D.s, has been flooded with consolidation applications since the new, higher interest rates and deadline were announced in February.