Collegiate Funding Services, Inc. Grants Forbearance to Qualified Student Loan Borrowers, Raises Funds for the American Red Cros
September 14 2005 - 4:51PM
PR Newswire (US)
FREDERICKSBURG, Va., Sept. 14 /PRNewswire-FirstCall/ -- In response
to the devastation and disruption brought on by Hurricane Katrina,
Collegiate Funding Services, Inc. (NASDAQ:CFSI) is granting
three-month loan forbearance to customers in the disaster areas and
is providing a 100 percent match to employee contributions and
fundraising efforts on behalf of the American Red Cross. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO ) CFS is
implementing the Department of Education's three-month loan
forbearance provisions on federally guaranteed student loan
programs to students and families of students who have been
impacted by Hurricane Katrina. The company also is extending the
same three-month forbearance period to private education loan
customers impacted by the disaster. "For many of us, this disaster
is incomprehensible," said J. Barry Morrow, president and chief
executive officer of Collegiate Funding Services, Inc. "As a
company, we are in the business of helping people obtain their
dreams of going to college and making their mark on the world, and
today we need to provide extra assistance to customers who are
displaced from their homes, schools, families and loved ones. I am
extremely proud of the heart felt efforts made by the associates of
CFS. They have risen to the occasion and implemented fund-raising
events to help those families in need. I especially applaud our
associates at CFS-SunTech in Jackson, Miss., who brought our
servicing center back into operation while also dealing with the
impact of the storm on their personal lives." CFS-SunTech has
volunteered to assist colleges in southern Mississippi with clean
up and other miscellaneous tasks as needed. CFS is working with the
American Red Cross and has already implemented a number of internal
fundraising efforts in its offices in Fredericksburg, Va., Boston,
Mass., Tampa, Fla. and Jackson, Miss. These efforts will continue
throughout the month, with the company matching 100 percent of the
funds raised or collected throughout the month of September. 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.
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 of Collegiate Funding Services,
+1-540-368-5970, Fax: +1-540-368-5963, or Web site:
http://www.cfsloans.com/
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