06 November 2013 (12:56 UTC-07 Tango)/02 Muharram 1434/15 Aban 1391/04 Gui-Hai (10th month) 4711

Reuters reporting that JP Morgan Chase will make its last student loan disbursement in March 2014.  The Too Big to Jail bank says U.S. student loans are a losing proposition, because of declining enrollments and the fact that many college graduates can’t find jobs that pay enough to repay the loans: “We just don’t see this as a market that we can significantly grow.”-Thasunda Duckett, JP Morgan Chase

However, Reuters pointed out that JP Morgan Chase is bleeding out cash: “JPMorgan’s portfolio has been shrinking by roughly $1 billion to $2 billion a year….”

In other words the real reason for JP Morgan Chase getting out of the student loan business is they are broke!

Other banks have seen their student loan issues decline, according to Reuters the federal government now issues 93% of student loans.

“Our ideals and principles, as well as our national security……..That’s what makes America different. That’s what makes us exceptional.”-Barack Obama, 10 September 2013