Data security breaches are an unfortunate reality for almost all
businesses in today’s information-driven marketplace. From
Target, to Home Depot, to Equifax, data breaches are increasingly
common and potentially devastating for businesses and their
customers. But data breaches are not limited to traditional
businesses. Any entity that collects, holds, or uses personal
information, and in particular, personal financial information,
faces risks from data breaches.
One group that may not fully appreciate these risks are
institutions of higher education. Most schools may be familiar with
the data security and privacy requirements of the Family
Educational Rights and Privacy Act (FERPA). But for schools that
participate in the Federal Title IV Educational Assistance
Programs, there may be additional data security and privacy
requirements they should be aware of.
