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 bigger 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. ), together with authorities for gathering and utilizing your Social Security Number (SSN) are §484(a)(4) for the HEA (20 U.S.C. 1091(a)(4)) and 31 U.S.C. 7701(b). Taking part in the Federal Family Education Loan (FFEL) Program, William D. Ford Federal Direct Loan (Direct Loan) Program, and Federal Perkins Loan (Perkins) Program and giving us your SSN are voluntary, however you must definitely provide the required information, as well as your SSN, to engage.
The main purposes for gathering the knowledge about this kind, including your SSN, are to validate your identification, to ascertain 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 discover both you and to gather and report on the loan(s) in the event your loan(s) become delinquent or in standard. We additionally make use of your SSN as a free account identifier and also to let you access your bank username and passwords electronically.
The details in your file might be installment loans fl disclosed, on a case-by-case foundation or under some type of computer matching system, to 3rd events as authorized under routine uses into the appropriate systems of documents notices. Read more