JPMorgan will stop accepting student loans applications for private schools starting Oct. 12. The decision was made because the company doesn't see student loans as a market for potential growth. Last year, student loans were open to Chase customers and the bank made education loans for 12,500 people for a total of $200 million. But at the end of June, Chase only had $11 billion in its student loan portfolio.
Chase will continue to process applications until October. The last loan disbursement will be expected before March 15, 2014.
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