- JP Morgan chief Jamie Dimon says we need to “fix the broken parts” of student lending in the United States.
- “What we’ve done is a disgrace and it’s hurting America,” Dimon tells Yahoo Finance.
- With $1.6 trillion outstanding student debt in the United States, student lending is crippling many Americans. Today the average college student graduates $30,000 in the debt, up from $10,000 in the 1990s.
JP Morgan chief Jamie Dimon says we need to “fix the broken parts” of student lending in the United States.
“What we’ve done is a disgrace and it’s hurting America,” JP Morgan’s chairman and CEO told Yahoo Finance in an interview Tuesday.
“I think they should look at all parts of student lending, fix the broken parts, and then forgive those people [who] need forgiveness, and then help people get into school, and then make sure the schools are responsible in getting the kids out,” Dimon said.
“How they go about taxing, I’ll leave that to the politicians to figure that out,” Dimon said.
JP Morgan exited student lending in 2013.