The authority for gathering the required information from and about you is §421 et seq., §451 et seq., and/or §461 et seq. Of the greater Education Act (HEA) of 1965, as amended (20 U.S.C. 1071 et seq., 20 U.S.C. 1087a et seq., and/or 20 U.S.C. 1087aa et seq. ), plus the authorities for gathering and utilizing your Social Security quantity (SSN) are §484(a)(4) for the HEA (20 U.S.C. 1091(a)(4)) and 31 U.S.C. 7701(b). Playing the Federal Family Education Loan (FFEL) Program, William D. Ford Federal Direct Loan (Direct Loan) system, and Federal Perkins Loan (Perkins) Program and giving us your SSN are voluntary, however you must make provision for the required information, as well as your SSN, to engage.
The main purposes for gathering the information and knowledge with this kind, including your SSN, are to validate your identity, to find out your eligibility to get that loan or an advantage on that loan (such as for instance a deferment, forbearance, release, or forgiveness) beneath the FFEL Program, Direct Loan Program, and/or Perkins Program, to allow the servicing of the loan(s), and, if it is needed, to find both you and to gather and report in your loan(s) if for example the loan(s) become delinquent or perhaps in standard. We additionally make use of your SSN as a merchant account identifier and also to let you access your bank username and passwords electronically.
The info in your file could be disclosed, on a case-by-case foundation or under some type of computer matching program, to 3rd events as authorized under routine uses within the appropriate systems of records notices. Continue reading