Educational Credit Management Corp. said the data included names, addresses, Social Security numbers and dates of birth of borrowers, but no financial or bank account information.

The data was on “portable media” that was stolen sometime last weekend, ECMC said in a statement. Company spokesman Paul Kelash wouldn’t specify what was taken, citing the ongoing investigation, but said there were no indications of any misuse of the data.

The St. Paul-based nonprofit said it discovered the theft last Sunday and immediately contacted law enforcement, and made the theft public when it received permission from authorities. The Minnesota Bureau of Criminal Apprehension is leading the investigation.

ECMC said it has arranged with credit protection agency Experian to provide affected borrowers with free credit monitoring and protection services. Borrowers will be receiving letters from ECMC soon on how to sign up, gain access to fraud resolution representatives, and be provided with identity theft insurance coverage.

“We deeply regret that this incident occurred and the stress it has caused our borrowers and our partners and are doing everything we can to help protect our borrowers’ identity and personal information,” Richard Boyle, president and CEO of ECMC, said in the statement.

ECMC is a contractor for the U.S. Department of Education to provide collection and document management services. It guarantees student loans through the Federal Family Education Loan program, and provides support services for student loans that are in default or bankruptcy. The company can act as the guarantor, loan holder or loan servicer.

Department of Education spokesman Justin Hamilton said protecting student privacy is a top priority.

“We are working with ECMC to make sure that affected individuals are provided with resources to protect their information and to provide with them with identity theft insurance,” Hamilton said. said protecting student privacy is a top priority for the agency.

Those who believe they may be affected were encouraged to visit ECMC’s Web site, www.ecmc.org, or call 1-877-449-3568 beginning Saturday.

According to the Privacy Rights Clearinghouse, more than 347 million individuals have been affected by data privacy breaches at hundreds of government agencies, universities and businesses since 2005.

Student loan company: Data on 3.3M people stolen | KOMO News – Breaking News, Sports, Traffic and Weather – Seattle, Washington | National & World News.

Having trouble keeping up with your student loan payments? Lower payments or no payments at all may be a phone call away. Read this press release from the U.S. Department of Education to find out how you may qualify for the new program.

U.S. Department of Education

For Immediate Release

July 1, 2009

Starting July 1, a new repayment option became available that makes monthly payments more affordable for Americans with heavy federal student loan burdens. The new Income-Based Repayment (IBR) plan protects borrowers by linking payments to income and family size. A related new program offers additional benefits to those working in public service jobs.

“We know many graduates are concerned about their ability to repay student loans in the current economic environment,” said U.S. Secretary of Education Arne Duncan. “This new plan addresses the issue head on by giving them the option of a monthly payment tied to their income.”

The new IBR program is available to borrowers repaying new and existing federal student loans (Direct or Federal Family Education Loans). Those with high student loan debt relative to their income are likely to be eligible for the IBR program, resulting in reduced monthly payments and, in some cases, no monthly payments.

For example, someone with student loan debt of $25,000 at 6.8 percent interest would have a monthly payment of $288 under the standard 10-year repayment plan. If the borrower were single with no dependents and had an Adjusted Gross Income (AGI) of $30,000, the monthly payment would drop to $172 per month, a reduction of $116 per month, or 40 percent under the IBR Program.

Payments are recalculated each year. The lower payments may result in longer repayment periods and increased interest charges. While individual lenders determine eligibility, borrowers can use a new IBR calculator to estimate monthly payments and eligibility. To apply for IBR, borrowers should contact their lender.

Borrowers who work in public service may be eligible to receive an additional benefit while using IBR: after 10 years, any remaining loan balance may be canceled. This Public Service Loan Forgiveness Program is available only in the Direct Loan Program to borrowers making payments while working full-time in schools, government or many nonprofit organizations. (Borrowers with Federal Family Education Loans can consolidate their loans into the Direct Loan Program in order to tap into this benefit.)

More detailed information about IBR and other repayment plans is available from the Department of Education at 1-800-4-FED-AID or www.studentaid.ed.gov. Click here for related video clips from Secretary Arne Duncan.