JPMorgan To Exit Student Loan Business

By  |  September 5, 2013
 | 

JPMorgan Chase will stop issuing student loans on October 12, Reuters revealed on September 5 after it uncovered a leaked company memo.

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    The media outlet said that JPMorgan cited competition from federal government programs as the primary reason for its decision.

    “We just don’t see this as a market that we can significantly grow,” Thasunda Duckett, Chase’s chief executive for auto and student loans, said in a September 5 interview.

    For more on what this means for the market’s remaining players, click here for Reuters’ fulll analysis. 


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