X0202 4/A 2004-07-21 2004-07-23 0 0001286686 COLLEGIATE FUNDING SERVICES INC CFSI 0001297188 Fees John T COLLEGIATE FUNDING SERVICES 100 RIVERSIDE PARKWAY FREDERICKSBURG VA 22406 0 1 0 0 EVP Common Stock 2004-07-21 4 P 0 4000 16.00 A 4000 D This filing is a correction to the Form 4 filing that was made on July 23, 2004. The purchase of CFSI common stock on July 21, 2004 was reported on July 23, 2004 as 8000 shares. 8000 was the number of shares that Mr. Fees had reserved under a Reserved Share Purchase Program in conjunction with the CFSI initial public offering. In fact, Mr. Fees purchased only 4000 of the reserved shares of CFSI common stock. /s/ Charles J. Payne, attorney in fact 2004-07-26