by James Guzman and Ben Vincent, Dollar Vigilante:
In 2008 the prospective career paths for much of America went up in smoke as jobs became more and more sparse. Many, still desperately clinging to the fantasy of the American Dream, are getting money the only way that they know how; borrowing it.
What better way to fund your lifestyle and prepare for a new career than getting a loan to go to college – right? But what if there’s no one to lend that money? Early this month JP Morgan announced that they will be exiting the student loan market as of this October stating, “We just don’t see this as a market that we can significantly grow,” making it clear that the student loan market is truly dysfunctional.
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