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Taxpayers to pay after student loan information lost

Taxpayers will be picking up the tab after the federal gorvernment lost the personal information for as many as 583,000 student loan applicants.

The Calgary Sun reports Ottawa has hired Equifax to monitor the credit of those affected for up to six years and flag anything suspicious.

The hard drive from Human Resources and Skills Development Canada contained names, birth dates, SIN numbers, addresses and loan balances federal student loan borrowers between the year 2000 and 2006.

Though Ottawa hasn’t revealed the cost of the credit monitoring contract, it’s estimated to be well over $700 million.