MOVEit National Student Clearinghouse $9.95M Settlement

If you received notice from National Student Clearinghouse that your Social Security number was potentially compromised in the 2023 MOVEit Security Incident, you may be eligible to claim up to $10,000 from a class action settlement.

National Student Clearinghouse has agreed to pay $9.95 million to settle a class action lawsuit for alleged negligence in data security practices that led to a data breach.

Who is eligible for a payout?

The settlement class includes all individuals in the United States whose Social Security number was included in the files affected by the data breach.

If you are unsure whether you are included, you can contact the Settlement Administrator for assistance.

How much are the NSC data settlement payouts?

Class members can claim various benefits depending on their circumstances:

• Reimbursement for ordinary losses: up to $2,500, including up to four hours of lost time at $25 per hour
• Reimbursement for extraordinary losses: up to $10,000 for documented monetary losses
• Alternative cash payment: of $100, subject to pro rata adjustments
• If the total value of claims exceeds the net settlement fund, cash payments will be reduced proportionally
• If claims do not exhaust the fund, payments may increase up to $1,000

For example, if the net settlement fund is $8 million after deductions and 100,000 valid claims are submitted, each claimant could receive $80. However, if only 5,000 claims are submitted, each claimant could receive up to $1,000.

How to claim a payout

To claim an payout, you must complete and submit an online claim form by May 26, 2025.

Alternatively, you can download the PDF claim form, fill it out, and mail it to the settlement administrator.

Settlement Administrator's mailing address: MOVEit National Student Clearinghouse Settlement Administrator, P.O. Box 2878, Portland, OR 97208-2878

Claimants must provide documentation to support their claims for reimbursement of losses including:

• Receipts, voided checks, bank statements, or other documents showing the amount of losses
• Detailed narrative descriptions of losses

Claim instructions

1. Visit the online claim form page.
2. Enter your Unique ID and PIN from your notice.
3. Provide detailed information about your losses and attach supporting documentation.
4. Submit the form online or mail the completed PDF form to the settlement administrator.

Payout options

• Electronic payment via email link
• Physical check mailed to your address

$9.95 Million settlement fund

The settlement fund of $9,950,000 will cover various costs and payments:

• Settlement administration costs: TBD
• Attorneys' fees: $2,487,500 (up to 25% of the settlement fund)
• Service awards to class representatives: Up to $5,000
• Payments to class members: Remaining funds after any other costs

Important dates

• Deadline to File a Claim: May 26, 2025
• Final Approval Hearing: May 12, 2025

When is the MOVEit National Student Clearinghouse Settlement payout date?

The court will hold a final approval hearing on May 12, 2025. If the settlement is approved, payments will be distributed to eligible class members.

Why was there a class action settlement?

The lawsuit was initiated due to alleged negligence by NSC in handling data security, leading to a breach that compromised Social Security numbers. The settlement allows both parties to avoid the costs and risks of a trial while providing compensation to affected individuals.