Curtis Wiltshire was charged by authorities after investigators said they found a portable storage device attached to his computer at the Fed containing applications for student loans totaling $73,000 in the names of two people whose identities had been used without permission.
Prosecutors said the search also revealed a fraudulent driver's license with the picture of a Fed employee who was not the person identified by the license.
In a separate complaint, Mr Wiltshire's brother Kenneth has been charged with using a fake driver's license to obtain a mailbox, which was being used to receive the documents for a boat loan in the name of an individual whose name was being used without their permission.
He is charged with mail fraud and aggravated identity theft.
According to the New York Times, the defendants have been freed on $100,000 bail.