Chase Pulls Out of Federal Student Loan Program

March 17, 2010

Chase announced Tuesday that it would no longer participate in the Federal Family Education Loan Program, which would be eliminated under the student loan restructuring plan now before Congress, Student Lending Analytics reported. In an e-mail message to college financial aid officials, the guaranteed loan program's fifth-largest lender in fiscal 2009 said that it would stop accepting applications from borrowers in mid-April, though it would continue to offer private student loans.

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