Collegiate Funding Services, Inc. Names Paul R. Eber to Lead School Services Unit

FREDERICKSBURG, Va., Oct. 17  /PRNewswire-FirstCall/ -- Collegiate Funding Services, Inc. (NASDAQ:CFSI) today announced the appointment of Paul R. Eber, 49, as a senior vice president of the company and president of school services, effective immediately.

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In this capacity, Eber will provide executive leadership for the campus sales staff, the campus business development team and campus support services. In addition, he will support other CFS initiatives to help ensure that a full array of CFS products and services are available to meet the current and future needs of the college and university community.  Eber will participate on the company's executive committee.

Eber was a co-founder and served as president and chief executive officer of ELM Resources, an alliance of companies that provides automated Federal Family Education Loan Program and alternative loan data exchange, updates, funding and information via the Internet. A 22-year veteran of the education finance industry, he also has served as the senior executive of a top-10 student lender and as a leader within two guaranty agencies.

"Paul Eber has played a key leadership role in a variety of student loan industry innovations, including the creation of the Master Promissory Note, the founding of ELM Resources and the introduction of negotiated rulemaking between the Department of Education and the postsecondary community," said J. Barry Morrow, president and chief executive officer of Collegiate Funding Services, Inc.  "The addition of Paul to the CFS team, along with our recent improvements in our school channel services, such as the introduction of an in-house origination capability, reflects CFS' continued commitment to serving our customers through a variety of channels and a full array of education finance products."

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,

[phone], fax: [phone], , or Investor

Contact: Gary Tiedemann, Vice President, Investor Relations, [phone],

fax: [phone], , both of Collegiate Funding

Services, Inc.



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

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