LOS ANGELES — JPMorgan Chase & Co. is exiting the student loan business, saying it doesn’t see meaningful growth in the private market for education loans.
Spokesman Trish Wexler says that the New York lender will stop accepting student loan applications after Oct. 12. She said families are increasingly relying on government-backed student loans. Chase made $200 million in student loans last year, down from $6.9 billion in 2008.
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