Script utility to read a file line line and separate line in fields

#!/bin/bash
# 
# Shell script utility to read a file line line version 2
# This is simpler version of readline script
# This script also demonstrate how to process data file 
# line by line and then separate line in fields, so that 
# you can process it according to your need. 
# 
# You can call script as follows
# ./readline2
# -----------------------------------------------
# Copyright (c) 2005 nixCraft <http://cyberciti.biz/fb/>
# This script is licensed under GNU GPL version 2.0 or above
# -------------------------------------------------------------------------
# This script is part of nixCraft shell script collection (NSSC)
# Visit http://bash.cyberciti.biz/ for more information.
# -------------------------------------------------------------------------
 
### Main script stars here ###
# Store file name  here
FILE="/etc/passwd"
# field seprator, default is :, you can use blank space or
# other character, if you have more than one blak space in
# input line then use awk utility and not the cut :)
FS=":"
 
while read line
do
	# store field 1
	F1=$(echo $line|cut -d$FS -f1)
	# store field 2
	F2=$(echo $line|cut -d$FS -f6)
	# store field 
	F3=$(echo $line|cut -d$FS -f7)
	echo "User \"$F1\" home directory is $F2 and login shell is $F3"
done < $FILE