CFS Student Loan or Collegiate Funding Services

note:

On December 15th, 2005 JPMorgan Chase Bank, N.A. (NYSE: JPM) had signed an agreement to purchase Collegiate Funding Services, Inc. (NASDAQ: CFSI), a leader in student loan servicing and consolidation. They will join forces to provide student loans and will be run by the Chase Student Loan Department.

A CFS student loan used to offer Federal Student Loans.  Federal Student Loans are non-credit based student loans to college students which may at the same time also reduce their payments. Federal Student loans can be consolidated to provide students and former students with the ability to take advantage of lower interest rates and less paperwork. With a Federal Student Loan Consolidation, students strived to gain the ability to reduce their payments and interest. A loan through provides numerous other advantages for students including the following:

• The ability to reduce the amount of interest paid throughout the life of the loan
• The option of an interest rate reduction
• Tax deductible interest

• Level Repayment Plan-fixed monthly payments
• All loans considered for consolidation must be in either the grace period or in repayment status
• Student loans considered for consolidation include: subsidized and unsubsidized Stafford loans, Federal Supplemental Loans for Students, Federal Perkins Loans, Federal Insured Student Loans, Federal PLUS loans, Direct PLUS loans, Subsidized Federal Consolidation loans, Direct Subsidized Consolidation loans, Direct Unsubsidized Consolidation loans and Federal Nursing loans.

• Level Repayment Plan-fixed monthly payments
• Two Year Graduated Repayment Plan-lower payments over the first two years of the loan with increases that begin in year three of repayment
• Four Year Graduated Repayment Plan-lower payments over the first four years of the loan with increases that begin in year five of repayment
• Income Sensitive Repayment Plan-Payment options calculated on current income levels and adjusted annually.
• Extended Repayment Plan-Under special circumstances, a borrower may be able to repay the amount of their loan over a 25 year period of time.

Individuals considering a Federal Student Loan should know that no origination or loan fees are charged and interest rates are set by the federal government each July 1. Discounts are offered for certain incentives, such as signing up for automatic payments and making payments on time. A Federal Student Loan has loans available for college students, graduate students, recent graduates, high school students, parents and even continuing education.

As always, we recommend that you first see if you qualify for a free college scholarship by applying to as many as you qualify for. Chances are very good that you will qualify for some type of free scholarship because most scholarships are not used up by the various participating colleges because people simply do not apply to find out. Colleges want to give them away so students will attend school their. Read more about the easy scholarships to apply to.

Chase Bank after purchasing CFS Collegiate Funding Services is a major student loan provider on private as well as other various types of college loan programs.

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To repay student loans, students are assessed based on income and ability to pay. Before you repay student loans students first meet with their financial aids administrator to discuss which option is best.