CFSI Collegiate Funding Services (MM)

FREDERICKSBURG, Va., Nov. 17 /PRNewswire/ -- Last Spring's college graduates can now reflect on their days of lectures, term papers and campus life, but many also are forced to look ahead and face the steep burden of large student loan debts. For the millions of recent graduates approaching the end of their "grace period," a six-month period beginning with the first day after their separation date, and entering repayment status, now may be the best time to consolidate, locking in a low interest rate, including potentially lower rates associated with consolidating Federal Stafford Loans during grace. (Logo: http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO ) A recent 2005 report by the Center for Economic and Policy Research noted that the cost of higher education has risen more than 50 percent since 1990. The same study reports that debt levels exceed $22,500 for approximately 73 percent of students graduating from a four-year, private institution. A recent Wall Street Journal article noted that working two jobs is becoming a trend as graduates realize that their highly marketable degrees can not cover both living expenses and student loan debt. Student loan consolidation can help graduates manage their college debts along with the added living expenses they must now incur. Students who choose to consolidate their Federal student loans can benefit from: * lower monthly payments * fixed interest rates * flexible repayment plans * one convenient monthly payment In addition, borrowers who consolidate during their grace period may receive a lower interest rate on their underlying loans -- depending on the type of loans being consolidated. For those graduates rushing to meet their grace deadline, selecting a company with online application signature capability, can help ensure they receive the grace benefit. "The consolidation process can often be overwhelming for students and parents," said W. Clark McGhee, executive vice president of marketing for Collegiate Funding Services, Inc. "We have streamlined the application process and provide our customers with the capability to complete the entire application online, including the loan applicant's signature. E-signature allows customers that are nearing the end of their 'grace period' to act quickly and take advantage of the 'in-grace' discounts while reducing the processing time tremendously." Parents and students who would like to learn more about CFS' Federal consolidation program, can visit the company's website at http://www.cfsloans.com/ or call a loan consultant toll-free at 877-523-7562. About Collegiate Funding Services Collegiate Funding Services Inc. (NASDAQ:CFSI) is a leading education finance company dedicated to providing students and their families with the practical advice and loan solutions they need to help manage and pay for the cost of higher education. Collegiate Funding Services also offers a comprehensive portfolio of education loan products and services -- including loan origination, loan servicing and campus-based scholarship and affinity marketing tools -- to the higher education community. As of September 30, 2005, Collegiate Funding Services had facilitated the origination of more than $21 billion in education loans; the company currently manages $12 billion in student loans for more than 476,000 borrowers. For additional information, visit http://www.cfsloans.com/ or call 1-888-423-7562. http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO http://photoarchive.ap.org/ DATASOURCE: Collegiate Funding Services Inc. CONTACT: Ann Collier, Senior Vice President, Corporate Communications, Phone: +1-540-368-5970, Fax: +1-540-368-5963, , or Jean Marie Bucco, Marketing Communications Manager, Phone: +1-540-368-5930, Fax: +1-540-368-5940, , both of Collegiate Funding Services Inc. Web site: http://www.cfsloans.com/

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