Exhibit 99.1

Annual Statement for Collegiate Funding Services Education Loan Trust 2005-B

Student Loan
Asset-Backed Notes, Series 2005-B

For the period ended December 31, 2005

The information shown below has not been independently verified, however, it is believed to be accurate to the best of the issuers knowledge.



| | (a) | The amount of principal payments made with respect to each class of Notes during the fiscal year ended December 31, 2005;
| | --- | -------------------------------------------------------------------------------------------------------------------------



|      |  |                |              
|----- |  | -------------- | -------------
|Class |  | Principal Paid
|A-1   |  | $              | 40,288,326.73
|A-2   |  | $              | 0.00         
|A-3   |  | $              | 0.00         
|A-4   |  | $              | 0.00         
|B     |  | $              | 0.00         



| | (b) | The amount of interest payments made with respect to each class of Notes during the fiscal year ended December 31, 2005;
| | --- | ------------------------------------------------------------------------------------------------------------------------



|      |  |               |             
|----- |  | ------------- | ------------
|Class |  | Interest Paid
|A-1   |  | $             | 7,095,930.62
|A-2   |  | $             | 4,416,022.94
|A-3   |  | $             | 3,824,609.56
|A-4   |  | $             | 6,389,130.49
|B     |  | $             | 838,952.89  



---

| | (c) | The amount of payments allocable to any Note Holders Auction Rate Interest Carryover (for each Class of Auction Rate Notes only), together with any remaining outstanding
amount of each thereof;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|                         |  |                    |     
|------------------------ |  | ------------------ | ----
|                         |  | Interest Carryover
|Auction Rate Notes (N/A) |  | $                  | 0.00



| | (d) | The aggregate principal balance of the Financed Eligible Loans as of December 31, 2005;
| | --- | ---------------------------------------------------------------------------------------



|                                             |  |   |                 
|-------------------------------------------- |  | - | ----------------
|Principal Balance of Financed Eligible Loans |  | $ | 1,221,587,940.89



| | (e) | The aggregate outstanding amount of the Notes of each class as of December 31, 2005, after giving effect to payments allocated to principal reported under clause
(a) above;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|      |  |                       |                 
|----- |  | --------------------- | ----------------
|Class |  | Principal Outstanding
|A-1   |  | $                     | 382,711,673.27  
|A-2   |  | $                     | 253,000,000.00  
|A-3   |  | $                     | 218,000,000.00  
|A-4   |  | $                     | 360,500,000.00  
|B     |  | $                     | 45,500,000.00   
|      |  |                       |                 
|Total |  | $                     | 1,259,711,673.27



| | (f) | The interest rate for the applicable Class of Notes with respect to each payment referred to in clause (b) above, indicating whether such interest rate is calculated based on
the Net Loan Rate or based on the applicable Auction Rate (for each class of Auction Rate Notes only) as of December 31, 2005;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|      |  |                         |  |             
|----- |  | ----------------------- |  | ------------
|      |  | Calculation Method     
|      |  | (Actual Method in Bold)
|Class |  | Net Loan Rate           |  | Auction Rate
|N/A   |  | N/A                     |  | N/A         

The interest rate on the Class A-1, A-2, A-3, A-4 and B LIBOR Notes as of December 31,
2005 was 4.52938%, 4.61938%, 4.63938%, 4.67938% and 4.83938%, respectively. The rate is based on 3-month LIBOR plus 0.01%, 0.10%, 0.12%, 0.16% and 0.32%, respectively for the Class A-1, Class A-2, Class A-3, Class A-4 and Class B
LIBOR Notes.



| | (g) | The amount of the Servicing Fees paid by the Trust during the fiscal year ended December 31, 2005;
| | --- | --------------------------------------------------------------------------------------------------



|               |  |   |             
|-------------- |  | - | ------------
|Servicing Fees |  | $ | 1,177,991.20



| | (h) | The amount of the Administration Fee, Broker/Dealer Fee, Auction Agent Fee and Trustee Fee paid by the Trust during the fiscal year ended December 31, 2005;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------



|                   |  |             |           
|------------------ |  | ----------- | ----------
|Administration Fee |  | $427,810.38
|Broker/Dealer Fee  |  |             | N/A       
|Auction Agent Fee  |  | N/A        
|Trustee Fee        |  | $           | 126,250.00



---

| | (i) | The amount of Net Losses, if any, during the fiscal year ended December 31, 2005 and any recoveries of principal and interest received during the fiscal year ended
December 31, 2005 relating to Financed Student Loans for which Net Losses were previously allocated;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|           |  |       |     
|---------- |  | ----- | ----
|Net Losses |  | $0.00
|Recoveries |  | $     | 0.00



| | (j) | The amount of the initial payments attributable to amounts in the Reserve Fund, the amount of any other withdrawals from the Reserve Fund during the fiscal year ended
December 31, 2005 and the balance of the Reserve Fund as of December 31, 2005;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|             |  |                  |              |             |   |            |  |   |             
|------------ |  | ---------------- | ------------ | ----------- | - | ---------- |  | - | ------------
|             |  | Initial Payments |              | Withdrawals |   | Balance   
|Reserve Fund |  | $                | 6,457,000.00 |             | $ | 304,566.49 |  | $ | 6,152,433.51



| | (k) | The portion, if any, of the payments attributable to amounts on deposit in the Acquisition Fund;
| | --- | ------------------------------------------------------------------------------------------------



|                                                             |  |   |     
|------------------------------------------------------------ |  | - | ----
|The portion of payments attributable to the Acquisition Fund |  | $ | 0.00



| | (l) | The aggregate amount, if any, paid by the Trustee to acquire Eligible Loans from amounts on deposit in the Collection Fund and the Add-on Consolidation Loan Fund during the fiscal
year ended December 31, 2005;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|                               |  |           |              |          |   |         |  |       |            |  |   |             
|------------------------------ |  | --------- | ------------ | -------- | - | ------- |  | ----- | ---------- |  | - | ------------
|                               |  | Principal |              | Interest |   | Premium |  | Total
|Collection Fund                |  | $         | 6,812,363.19 |          | $ | 0.00    |  | $     | 171,140.52 |  | $ | 6,983,503.71
|Add-on Consolidation Loan Fund |  | $         | 5,073,981.90 |          | $ | 0.00    |  | $     | 126,018.10 |  | $ | 5,200,000.00



| | (m) | The amount remaining in the Acquisition Fund during the fiscal year ended December 31, 2005 that was not used to acquire Financed Eligible Student Loans and was transferred to
the Collection Fund;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|                                                   |  |   |           
|-------------------------------------------------- |  | - | ----------
|Transfers from Acquisition Fund to Collection Fund |  | $ | 258,887.47



| | (n) | The aggregate amount, if any, paid for Eligible Financed Student Loans purchased from the Trust during the fiscal year ended December 31, 2005;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------



|                                                            |  |   |     
|----------------------------------------------------------- |  | - | ----
|Loans sold from the Trust (principal, interest and premium) |  | $ | 0.00



| | (o) | The number and principal amount of Financed Eligible Student Loans, as of December 31, 2005, that are delinquent or for which claims have been filed with the appropriate
Guaranty Agency and which are awaiting payment;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

|               |  |                 |  |                       |               |                                 |      |  
|-------------- |  | --------------- |  | --------------------- | ------------- | ------------------------------- | ---- | -
|Delinquencies  |  | Number of Loans |  | Principal Outstanding |               | % of Total PrincipalOutstanding |     
|31-60 Days     |  | 1,682           |  | $                     | 27,958,797.83 |                                 | 2.29 | %
|61-90 Days     |  | 685             |  |                       | 11,526,134.71 |                                 | 0.94 | %
|91-120 Days    |  | 503             |  |                       | 8,259,364.30  |                                 | 0.68 | %
|121-150 Days   |  | 655             |  |                       | 10,150,510.67 |                                 | 0.83 | %
|151-180 Days   |  | 754             |  |                       | 10,771,540.68 |                                 | 0.88 | %
|181-210 Days   |  | 754             |  |                       | 10,956,182.97 |                                 | 0.90 | %
|211-240 Days   |  | 192             |  |                       | 2,788,687.43  |                                 | 0.23 | %
|Claims Pending |  | 326             |  |                       | 5,798,948.50  |                                 | 0.47 | %
|Claims Filed   |  | 16              |  |                       | 279,321.14    |                                 | 0.02 | %



| | (p) | The total value of the Trust and outstanding principal amount of the Notes as of December 31, 2005;
| | --- | ---------------------------------------------------------------------------------------------------



|                                 |  |   |                  |  
|-------------------------------- |  | - | ---------------- | -
|Assets                           |  |   |                  |  
|Cash & Cash Equivalents          |  | $ | 12,000,422.00    |  
|Student Loan Receivables         |  | $ | 1,221,587,940.89 |  
|Reserves                         |  | $ | 6,152,434.00     |  
|Accrued Interest Receivable      |  | $ | 18,662,013.00    |  
|Other Assets                     |  | $ | 5,180,674.00     |  
|                                 |  |   |                  |  
|Total Assets                     |  | $ | 1,263,583,483.89 |  
|                                 | 
|Liabilities                      |  |   |                  |  
|                                 | 
|Notes Payable                    |  |   |                  |  
|Class A-1                        |  | $ | 382,711,673.27   |  
|Class A-2                        |  | $ | 253,000,000.00   |  
|Class A-3                        |  | $ | 218,000,000.00   |  
|Class A-4                        |  | $ | 360,500,000.00   |  
|Class B                          |  | $ | 45,500,000.00    |  
|                                 |  |   |                  |  
|Total Notes Outstanding          |  | $ | 1,259,711,673.27 |  
|                                 | 
|Other Liabilities                |  | $ | 1,960,788.00     |  
|                                 | 
|Total Liabilities                |  | $ | 1,261,672,461.27 |  
|                                 | 
|Parity Ratio (Senior Notes Only) |  |   | 103.08           | %
|Parity Ratio (All Notes)         |  |   | 99.36            | %
|Parity Ratio (All Liabilities)   |  |   | 99.20            | %



| | (q) | The number and percentage by dollar amount of (i) rejected federal reimbursement claims for Financed Student Loans, (ii) Financed Student Loans in forbearance and
(iii) Financed Student Loans in deferment as of December 31, 2005;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

|                     |  |                 |  |                       |                |                                 |       |  
|-------------------- |  | --------------- |  | --------------------- | -------------- | ------------------------------- | ----- | -
|Delinquencies        |  | Number of Loans |  | Principal Outstanding |                | % of Total PrincipalOutstanding |      
|Rejected Claims      |  | N/A             |  |                       | N/A            |                                 | N/A   |  
|Loans in Forbearance |  | 6,407           |  | $                     | 135,231,387.84 |                                 | 11.07 | %
|Loans in Deferment   |  | 8,127           |  | $                     | 156,576,748.40 |                                 | 12.82 | %

A copy of the statements referred to above may be obtained by any Note Holder by a written request to the
Indenture Trustee, addressed to its Corporate Trust Office.