JPMorgan Chase is getting schooled on the FAFSA.
, author of the Your Money column for the New York Times, about whether the biggest bank in America got taken by a twenty-something startup founder. Our conversation has been edited and condensed for clarity.The big idea at first was to help people who are having trouble filling out the federal financial aid form known as FAFSA, which is notorious for its 100-odd questions and all sorts of financial detail that you need.
Why do you think JPMorgan Chase was so interested in this company? Because $175 million may be a small amount for them, but it’s still not nothing. Why did they want it? JPMorgan says that the real number was closer to about 300,000people who had in some way, shape, or form actually engaged with the company or used one of its services. That was the number of real emails and real names that they actually had in their database, according to JPMorgan. Now, let’s remember here that these are all allegations. There has been no reply yet.
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