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Platform, Available Through CFS-SunTech Servicing, Benefits Students,

Financial Aid Officers and CFS-SunTech Clients

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    FREDERICKSBURG, Va., Aug. 23 /PRNewswire-FirstCall/ -- Collegiate Funding
 Services, Inc. (Nasdaq:   CFSI) today announced the launch of an in-school
 student loan origination platform through its wholly owned subsidiary, CFS-
 SunTech Servicing LLC.
     (Logo:  http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO )
     With this new platform, CFS can offer its college partners a seamless,
 paperless transaction for originating and disbursing in-school loans made
 under the Federal Family Education Lending Program.  Adaptability of the new
 system allows CFS-SunTech Servicing to also provide this service for other
 FFELP lenders and their customers.
     CFS-SunTech services approximately $12 billion in student loans for more
 than 460,000 borrowers.  CFS-SunTech is one of only two student loan servicers
 that have been publicly rated in Moody's Investor Service's SQ1 category for
 servicing of FFELP loans.  CFS-SunTech has originated federally guaranteed
 consolidation loans since 1990, but had previously completed all in-school
 FFELP loan originations through a third party.
     "By maintaining our own origination platform, we gain greater control over
 the service we offer our student, parent, college and third-party customers,"
 said John R. Elam, executive vice president of Collegiate Funding Services and
 president of CFS-SunTech.  "Using the new platform, we can rapidly originate
 and disburse a loan and disburse funds in accordance with each partner's
 specific requirements."
     "We believe the capabilities of the new CFS-SunTech origination platform
 will enable our company to further penetrate the in-school channel for
 education financing, further leveraging our investment in SunTech," said J.
 Barry Morrow, president and chief executive officer of Collegiate Funding
 Services, Inc.  "We continue to identify strategic solutions that provide
 students and their families with access to higher education funding through
 channels that are convenient for them."
     The new CFS-SunTech origination platform uses the AppWorks origination
 system developed by V-Tek Systems Corporation.  AppWorks is used by many of
 the nation's largest student loan lenders and servicers.
 
     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.
 
     Forward-Looking Statements
     This news release includes "forward-looking statements" about Collegiate
 Funding Services, Inc. within the meaning of Section 27A of the Securities Act
 of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
 as amended.  When used in this release, the words "looking forward,"
 "expects," "plans," "intends," "believes," "forecasts," or future or
 conditional verbs, such as "will," "should," "could" or "may," and variations
 of such words or similar expressions are intended to identify forward-looking
 statements. Among the key factors that may have a direct bearing on the
 company's operating results, performance or financial condition are (1)
 changes in terms, regulations and laws affecting student loans and the
 educational credit marketplace; (2) changes in the demand for educational
 financing or in financing preferences of educational institutions, students
 and their families; (3) changes in the credit quality or performance of the
 loans that the company purchases, retains, services and securitizes; or (4)
 changes in interest rates and in the securitization or secondary markets for
 education loans.  Important factors that could cause the company's actual
 results to differ materially from the forward-looking statements the company
 makes in this release are set forth in the company's filings with the
 Securities and Exchange Commission, including in the section entitled "Risk
 Factors" in the company's Quarterly Report on Form 10-Q for the Quarter Ended
 June 30, 2005.  The company undertakes no obligation to update or revise
 forward-looking statements which may be made to reflect events or
 circumstances that arise after the date made or to reflect the occurrence of
 unanticipated events unless the company has an obligation to do so under the
 federal securities laws.
 
 

SOURCE  Collegiate Funding Services, Inc.