About a CFS Student Loan

CFS, which is short for Collegiate Funding Services consolidates federal student loans to provide students and former students with the ability to take advantage of lower interest rates and less paperwork. With a CFS student loan consolidation, students also gain the ability to actually reduce their payments. Commonly called CFS Suntech; they are one of the largest servicer of federal student loans in the United States.

A loan through CFS 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

Eligibility requirements do apply for the CFS student loan. Common eligibility requirements include:

• $7500 or more in federal student loans
• 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.

Various repayment options are also offered with a student loan through CFS. In some cases repayment options can be extended up to 30 years.  This is depending upon the amount of the student loan. Five different repayment plans are offered:

1. Level Repayment Plan-fixed monthly payments
2. Two Year Graduated Repayment Plan-lower payments over the first two years of the loan with increases that begin in year three of repayment
3. Four Year Graduated Repayment Plan-lower payments over the first four years of the loan with increases that begin in year five of repayment
4. Income Sensitive Repayment Plan-Payment options calculated on current income levels and adjusted annually.
5. 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 loan through CFS 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 CFS student loan also has non-credit based student loans which are cfs student loans not based on credit. Credit has no bearing on whether or not the loan is approved.

To see if your eligible to receive free scholarship monies first visit and .  It's a free service that everyone should try before you fill out a college loan application.  You may not need a student loan if you secure free monies for college.

For more information about a CFS student loan, please visit: www.cfsloans.com.