Federman & Sherwood Investigates Nelnet Servicing, LLC for Data Breach That Impacts 2.5 Million People

The law firm of Federman & Sherwood has initiated an investigation into Nelnet Servicing, LLC with respect to a data breach that directly impacts student loan borrowers including those serviced by the Oklahoma Student Loan Authority (OSLA). On August 26, 2022, Nelnet Servicing, LLC reported that they recently experienced a cyber incident that involved unauthorized access to their network. In response, Nelnet supposedly took steps to secure its environment and investigate the incident with the assistance of third-party forensic experts.

Nelnet Servicing, LLC, a student loan servicing company, has acknowledged a breach affecting approximately 2,500,000 customers files containing customer data that included names and/or personal identifiers including their social security numbers. According to an official notice filed by Nelnet, Edfinancial Services, LLC was informed that the company experienced a data security incident. Nelnet explained that, after it discovered the unauthorized access, management secured its systems, blocked the suspicious activity, fixed the issue, and launched an investigation with third-party forensic experts to determine the nature and scope of the activity. However, on August 17, 2022, the investigation revealed that an unauthorized party was able to access student loan registration information between June 2022 and July 22, 2022. It is also possible the impact may affect borrowers from an earlier date.

If you wish to discuss this action, obtain further information and participate in this litigation contact Lacrista A. Bagley either by email at lab@federmanlaw.com or visit our firm’s website www.federmanlaw.com.

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