Why We Collect Information
We collect information to determine your creditworthiness, to identify you as our customer so we can establish and better manage your accounts, to comply with legal and regulatory requirements, and to enable you to apply for products or services.
We may also collect your personal information so that we can manage our outreach programs, create and offer you products and services that can help you with the college or career planning process, and offer you loan products and services that can assist you with the college financing process.
What Information We Collect
Personally Identifiable Information (PII) is information you provide about yourself via forms, surveys, the phone, in person, or through applications and includes your name, date of birth, postal address, email address, telephone number, fax numbers, mobile phone numbers, or other information about yourself or your workplace.
If you seek pre-qualification, we may ask you to provide your name, date of birth, zip code and social security number to verify your identity and process your request.
If you get pre-qualified for or apply for a loan with us, we may also obtain your social security number, information about your employment and finances, and information from third parties, such as your credit history and credit score, from credit bureaus and fraud detection services.
Your personal information can also include information about transactions that you have initiated with us on our websites, over the phone, or in person, whether these transactions are paid, such as account balances or payment history, or unpaid, such as college planning appointment registrations.
We may also collect information about you available on the internet, such as from Facebook, LinkedIn, Twitter, and Google, or publicly available information that we acquire from service providers.
You may, at any time, explore the content available on our websites without ever submitting PII about yourself. However, we may collect information about your online activity including, but not limited to, your IP address, location, device type, browser type, referral source, time spent on site, and pages viewed.
Mobile Application Useage
We use mobile application tracking software that helps us monitor the uses of our mobile applications so we can continually improve user experience. This software may collect information such as how often you use the application, how much time you spend on the application, pages that you have viewed within the application, and events that occurred within the application.
How We Use Personal Information
We may use Personal Information:
- to respond to your inquiries and fulfill your requests
- to maintain and service your loan account and get in touch with you about your loan account
- to verify your identity with non-affiliated third parties and pre-fill your loan application
- for accurate credit bureau reporting
- to send you important information regarding the Site, changes to our terms, conditions, and policies and/or other administrative information;
- to send you communications that we believe may be of interest to you
- to personalize your experience on the Site by presenting products and offers tailored to you
- to allow you to apply for one of our products (e.g., to pre-qualify for a loan) and evaluate your eligibility for such a product
- to process your loan application
- to verify your identity and/or location (or the identity or location of your representative or agent) in order to allow access to your accounts, conduct online transactions and to maintain measures aimed at preventing fraud and protecting the security of account and Personally Identifiable Information
- for our business purposes, such as data analysis, audits, developing new products, enhancing our Site, improving our services, collecting customer reviews, identifying usage trends and determining the effectiveness of our promotional campaigns
- for risk control, to comply with laws and regulations and to comply with other legal process and law enforcement requirements
What Information We Share
We will only share information as allowed by law and described in this policy. We will not sell your personal data to any third party.
In some circumstances, however, we may share your information with companies outside our organization, such as:
- Financial service providers. This includes companies that originate loans, service loans, guarantee loans, or process loan transactions on RISLA's behalf, vendors that print, prepare, or send statements or other materials physically or electronically on RISLA's behalf, and correspondent letters and computer systems programmers. This information may include:
- Your personal information for example, your name, address, and birth date, that you include on a loan application; and
- Information about your loan with us, for example, your monthly payment amount and loan balance; and
- Information we receive from credit bureaus, such as your creditworthiness and your payment history in the case your loan defaults and we are required to enlist a third party agency to assist in the collection of funds.
- Your school. We may share information with your school, including your personal information and information that you provide on your loan application, in order to obtain certification of your loan amount and verify the student’s enrollment status.
- Credit bureaus. Your personal information may be shared with credit bureaus to determine your creditworthiness or to occasionally review your credit.
- National Student Clearinghouse. Your information may be shared with the National Student Clearinghouse in order to verify your college enrollment information.
- Fraud prevention service providers. RISLA may share information with third parties in order to verify the applicant's identity, pre-fill loan applications, and facilitate the applicant's pre-qualification for a loan.
- Other service providers. Such companies may be used to help us make you aware of our products and services or to assist us in collecting customer feedback. These service providers will not receive your SSN, income information, credit information, or other personal financial information.
Our service providers receive limited information about you as necessary to perform their functions.
You have the ability to turn off cookie tracking in your web browser's privacy settings. See below links for instructions on how to enable or disable cookies on your browser.
Disclosing Personal Information of persons who have ceased to be customers of RISLA
When a relationship between RISLA and a customer has ended, the customer’s information is kept by us in compliance with our security procedures. This personal information will not be used unless the customer has opted in to receive information from us.
Legal and Other Situations
Sometimes the law or other circumstances requires us to disclose information about you to non-affiliated third parties. Some examples are: when you ask that we do so; when a guaranty agency, a school or the U.S. Department of Education needs the information in connection with your account; in response to subpoenas or court orders; with credit bureaus; or when we suspect fraud or criminal activity. The OPT OUT procedure does not apply to such disclosures.
Our Security Procedures
We take careful steps to safeguard customer information. We restrict access to your personal and account information to those employees who need to know that information to perform their jobs, and we provide regular training to our employees on privacy, information security, and their obligation to safeguard your information. We maintain physical, electronic, and procedural safeguards that comply with industry standards to protect your personal information and we regularly test those safeguards.
You can safeguard your personal information by taking a few simple precautions. Protect your account numbers, passwords, PIN’s, and customer access numbers. Never disclose confidential information to unknown callers. You should always use a secure browser and current virus detection software, and never open e-mail from unknown sources.
Opting Out & Unsubscribing
Users can unsubscribe from receiving digital marketing communication offers from RISLA, the RISLA College Planning Center, and Bridge.jobs at any time by entering their email address at http://risla.com/hs/manage-preferences/unsubscribe-simple or by clicking the unsubscribe link located at the bottom of any marketing communication email.
To opt out of posted mail marketing communications, please write to firstname.lastname@example.org and include your name and mailing address or send your request to Rhode Island Student Loan Authority, PO Box 81071, Warwick, R.I. 02888-0089.