Collegiate Funding Services, Inc. Announces Additions to Senior Management Team

FREDERICKSBURG, Va., Aug. 31  /PRNewswire-FirstCall/ -- Collegiate Funding Services, Inc. (NASDAQ:CFSI) has announced the appointment of several key senior managers.

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Bently Tong has joined CFS as vice president of credit risk management. Tong's main objective is to lead the company's efforts towards measuring and monitoring the credit quality and performance of CFS' student loan portfolio with a heightened focus on private loans.  Prior to joining CFS, Tong was the senior credit manager/vice president of risk management for The Student Loan Corp.  Tong contributes more than 16 years of credit management, risk-based pricing and underwriting experience to CFS.

Gary Tiedemann has joined the company as vice president of investor relations.  Immediately prior to joining CFS, Tiedemann was employed for more than five years with XM Radio as director of investor relations.  Tiedemann's main responsibilities will entail planning and directing all aspects of the organization's investor relations policies, objectives and initiatives, as well as maintaining relationships between CFS and its shareholders, investment bankers and analysts, and the general financial community.

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; the company currently manages 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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Investors: Gary Tiedemann, Vice President, Investor Relations, Phone:

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Collegiate Funding Services, Inc.



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

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