Education Credit Management Corp. said in March that a portable media device had been stolen that contained the names, addresses, dates of birth and Social Security numbers of 3.3 million students. No bank account or other financial information was included in the stolen data. ECMC officials said the incident, which affects up to five percent of all students with federal loans in the U.S., could represent one of the biggest cases of student identity theft in the nation's history. ECMC spokespeople maintained that the breach was a case of "simple, old-fashioned theft," and not external hacking, according to the Wall Street Journal . The breach coincided with the enactment of the largest overhaul of federal student loan rules in decade, however officials said they believed that the two events were not related. Altogether, the 3.3 million Social Security numbers stolen from ECMS represent a total of $8.9 million in loans.