TIME is running out to claim vast payments of up to $12,500 from a data breach settlement.
The National Student Clearinghouse is paying out the money to settle claims in a class action lawsuit.
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But affected Americans have just a few weeks to file a claim under the terms of the settlement.
National Student Clearinghouse is a nonprofit which helps students, schools and employers access educational data.
The settlement relates to a MOVEit data breach between May 28 and May 31, 2023.
It benefits anyone whose Social Security numbers were included in the affected files.
Hackers allegedly got access to the file transfer software used by the company, leading to sensitive information being compromised.
Plaintiffs argue the nonprofit could have done more to prevent the breach.
National Student Clearinghouse has agreed to a $9.95 million class action settlement to resolve the allegations.
However, the nonprofit has not admitted any wrongdoing.
It is paying out the money to resolve the claims brought against it.
Class members can get a cash payment for any data breach-related losses under the terms of the settlement.
They can receive up to $2,500 for ordinary losses, which might include bank fees, communication charges and up to four hours of lost time at $25 per hour.
Payments of up to $10,000 are also available for larger losses.
This could include fraud damages, professional fees and credit repair fees.
As well as this, all class members are eligible for two years of free credit monitoring.
But time is rapidly running out for class members to file a claim.
The deadline for claims is May 26, 2025 – giving those affected just a few weeks to file.
Documentation of losses is required as part of a claim submission.
This might include bank statements, invoices, receipts or phone records.
A final approval hearing is set for May 12.
Elsewhere, the clock is also ticking to claim money paid out by PostMeds Inc. from a $7.5 million data breach settlement.
Claimants can get payouts of up to $4,000 as part of the settlement related to a breach between August 30, 2023, and September 1, 2023.
PostMeds Inc. also denies wrongdoing, but is paying the money to settle the claims.
The deadline for the PostMeds Inc. settlement is May 12.