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SEP 05, 2013 - Yahoo! News

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JPMorgan to stop making student loans: company memo

By David Henry NEW YORK (Reuters) - JPMorgan Chase & Co has decided to get out of the student loan business, after the biggest U.S. bank concluded that competition from federal government programs and increased scrutiny from regulators had limited its ability to expand the business. JPMorgan, which already restricted student loans to existing Chase bank customers, will stop accepting applications for private student loans on October 12, at the end of the peak borrowing season for this school year, according to a memo from the company to colleges that was reviewed by Reuters on Thursday. ... Read More

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