Collegiate Funding Services announced plans to launch of a new private loan product and expand its presence in the private education loan market, the company announced. Beginning this month, CFS will market, purchase, retain and service this new product while continuing to market private loan products for other lenders. CFS has obtained insurance from an undisclosed, double-A rated, surety provider for the vehicle. CFS expects that the new product will represent approximately 25% of its total private loan originations in 2005, the company added.
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