SCOTTSDALE, AZ, July 10, 2007 - Cology Inc. today announced it has selected LifeLock as the identity theft protection partner for TuitionU.com. LifeLock is the nation's first preventative service that focuses on stopping the crime before it happens, and completely backs its program with a $1 million guarantee. As a sponsor of TuitionU.com, LifeLock will offer protection to its members from the problems that could arise from having private, non-public information exposed in the process of searching for financial aid.
Bill Hubert, Cology's Division President and Chairman who is spearheading TuitionU.com said, "Identity theft is a growing concern for students, parents, lenders and Universities alike. We wanted to be sure we selected a partner committed to support the growing need of our members. Students work hard for what they have achieved and deserve easy access to information and tools that can be critical to protecting their financial future."
Labeled "The fastest growing crime in America", it was estimated that in the United States alone, 15 million people (or 1 in 20) had their identity compromised in 2006 - that's more than a 350 percent increase from the year before. Since February of 2005, more than 150 breaches from university/college/community college-related organizations have been reported. Through the first six months of this year, there have been more than 40 breaches affecting at least 400,000 people.
"We welcome the opportunity to partner with Cology and its TuitionU.com community," said LifeLock CEO Todd Davis. "The number of university/college data breaches continues to grow for numerous reasons, but mostly, because focus has been placed on protecting the system and not the people. Whether through hacking, stolen computers or human errors, millions of students, faculty, staff and alumni have been put at a greater risk because institutions failed to protect personal information. TuitionU.com promises to be a robust online cooperative. Identity Theft will only stop when personal information is made useless to anyone but the rightful owner. This partnership will give members of TuitionU.com and their families the chance to take back control and never worry about the crime again."
Cology is a provider of outsourced student loan products and services to education finance businesses. The Company helps these partners attract, retain, service and manage their customers with a suite of "elements" that feature business and technology-based solutions. These elements include lending services, customized technology solutions, high-touch customer management programs, dynamic sales and marketing services and loan products. Cology's newest element, TuitionU.com , is a collaborative, student-focused community which encourages active participation from students, parents, schools, lenders and top business leaders to educate, inform and promote transparency throughout the entire education process. The site will launch mid-summer. For more information, go to www.Cology.com.
LifeLock (www.lifelock.com) helps consumers to render their personal information useless to thieves, backing up its service with a million-dollar guarantee. Famous for its CEO giving out his Social Security Number in advertising and national press, the company is experiencing astounding growth. Located in a secure facility in Tempe, Arizona, LifeLock is a private company backed by Kleiner Perkins Caufield and Byers as well as Bessemer Venture Partners.
Nominated for several American Business Awards, including Best New Company and Best New Product/Service, LifeLock provides both adults and children guaranteed protection from the problems stemming from ID Theft.
Roy Regalado, Vice President, Marketing Cology Inc. (480) 609-8762 x2490 Office (480) 596-5685 Fax rregalado@cology.com http://www.cology.com
Mike Prusinski, VP of Communications LifeLock 480-544-2222 Office mike@lifelock.com http:www.lifelock.com
with the most advanced Identity Theft Protection system available!