CFS-SunTech Awards $100,000 in Scholarship Aid to Mississippi Colleges and Universities

FREDERICKSBURG, Va., Oct. 12  /PRNewswire-FirstCall/ -- Collegiate Funding Services, Inc. (NASDAQ:CFSI) announced today the donation through its wholly owned subsidiary CFS-SunTech Servicing LLC, of $100,000 in scholarships to students who were directly affect by Hurricane Katrina and attend Mississippi colleges and universities.

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"As one of the countries major student loan servicers and a large employer in Jackson, Miss., CFS-SunTech has seen first hand the impact of Hurricane Katrina on students enrolled in private institutions, public schools and higher education facilities in our state," said John R. Elam, executive vice president of Collegiate Funding Services and president of CFS-SunTech.  "As a company, we want to provide tangible assistance to our community in a way that we are uniquely qualified to do.  CFS has already provided a 100 percent employee match for all funds donated to the American Red Cross, but we wanted to do more.  We wanted to help our neighbors, business partners, customers and students continue to reach their educational objectives.  We felt the best way to ensure that our future professionals could continue their education, was to commit scholarship money to Mississippi colleges and universities."

"This scholarship fund is certainly a welcome gesture that Mississippians appreciate and which will be put to good use," Senator Lott said.  "I know the schools participating in this initiative will ensure that this money is distributed wisely and in a way that can help most qualified students who've suffered from Hurricane Katrina.  For many years I've worked to improve Mississippi's higher educational system because it is through this system that our state can attract better jobs and more opportunities.  With this same idea, CFS-SunTech has stepped forward in a very positive way, and I am very thankful for their willingness to help our state's people at this time of unprecedented need."

CFS-SunTech will disburse the $100,000 in scholarship money through financial aid administrators at the 18 Mississippi schools listed below. Disbursement amounts of up to $10,000 will be based upon the number of impacted students attending those schools.  Scholarships will be awarded based on need directly to students for the 2005-2006 academic year.  Assistance must be used for tuition, fees, books, room and board or other education-related expenses.

Mississippi School Recipients include:

Belhaven College, Delta State University, East Central Community College, Hinds Community College, Jackson State University, Jones Country Jr. College, Meridian Community College, Millsaps College, Mississippi College, Mississippi Gulf Coast Community College Jackson, Mississippi State University, Mississippi Valley State University, Pearl River Community College, University of Mississippi, University of Southern Mississippi, William Carey College - Gulfport, Mississippi University for Women and Alcorn State University.

Students attending these institutions have faced numerous hurdles over the past few weeks.  Many have been displaced and have commenced their fall semester at different universities; others have lost their homes and all their belongings.  It is the company's sincere hope that these scholarships can help to provide some relief to those affected students and that they can re-focus their attention on their academics and future goals.

About Collegiate Funding Services

Collegiate Funding Services 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 June 30, 2005, Collegiate Funding Services had facilitated the origination of more than $20 billion in education loans and was managing almost $12 billion in student loans for more than 460,000 borrowers.  For additional information, visit http://www.cfsloans.com/ or call 1-888-423-7562. 

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DATASOURCE: Collegiate Funding Services, Inc.



CONTACT: Ann Collier, Senior Vice President, Corporate Communications,

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Web site:  http://www.cfsloans.com/

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