The authority for collecting 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. ), in addition to authorities for gathering and utilizing your Social Security quantity (SSN) are §484(a)(4) of this 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) system, and Federal Perkins Loan (Perkins) Program and giving us your SSN are voluntary, you must make provision for the required information, together with your SSN, to take part.
The key purposes for gathering the details about this kind, including your SSN, are to validate your identification, to ascertain your eligibility to get that loan or an advantage on financing (such as for example a deferment, forbearance, release, or forgiveness) underneath the FFEL Program, Direct Loan Program, and/or Perkins Program, to allow the servicing of the loan(s), and, if it will become necessary, to discover both you and to gather and report in your loan(s) should your loan(s) become delinquent or in standard. We additionally make use of your SSN as a merchant account identifier and also to enable you to access your bank account information electronically.
The details in your file could be 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. Continue reading “Privacy Act Notice. The Privacy Act of 1974 (5 U.S.C. 552a) calls for that the following notice be supplied to you:”