JPMorgan To Exit Student Loan Business

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

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“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.