Seeking Alpha

JPMorgan to exit student loan business: WSJ

  • JPMorgan (JPM +0.7%) is exiting the student loan business, according to a memo seen by WSJ.
  • The bank seems to be quite adept lately at getting out of businesses that have the potential to stir up controversy — the firm announced in July that it would pursue strategic alternatives for its physical commodities business as Wall Street's role in metal warehousing drew scrutiny.
  • Some commentators see a bubble in student debt which now totals in excess of $1T all told.
  • Non-revolving credit (student loans and car loans) has become the main driver behind consumer credit expansion in the wake of the crisis.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)