The National Student Clearinghouse, a nonprofit organization that assists with accessing educational data, agreed to a $9.95 million settlement in a class-action lawsuit over a data breach in 2023. The breach, which involved the MOVEit file transfer software, allegedly allowed hackers to access sensitive data, including Social Security numbers, between May 28 and May 31, 2023. Plaintiffs in the lawsuit argued that this breach could have been prevented with more stringent cybersecurity measures, implicating an industry-wide need for better data protection. Under the settlement, eligible individuals can receive reimbursement for both ordinary and extraordinary losses, with a maximum potential award of up to $12,500. All class members are also entitled to two years of free credit monitoring and identity theft protection services, reinforcing the importance of such services in the aftermath of data breaches.