Tuesday, May 21, 2024

Latest Posts

Cordray to step down from Federal Pupil Assist

Richard Cordray has led the Workplace of Federal Pupil Assist since Might 2021. His three-year appointment is up subsequent week.

Photograph by Ricky Carioti/The Washington Publish through Getty Pictures

Richard Cordray, the chief working officer of Federal Pupil Assist, is leaving the company after dealing with calls from Congressional Republicans to resign over the botched roll-out of the Free Utility for Federal Pupil Assist.

Cordray will lead the company by means of the top of June, “with a purpose to oversee the completion of key priorities inside the group,” the Schooling Division stated in a information launch late Friday morning. Schooling Secretary Miguel Cardona praised Cordray’s management of the company as “consequential.”

Friday’s announcement comes because the division works to repair quite a lot of points with the brand new FAFSA and grapples with the fallout. Cordray’s departure can even add to the management churn at Federal Pupil Assist, an company inside the division that manages the FAFSA and pupil mortgage packages. Cordray is the third particular person in seven years to function chief working officer of Federal Pupil Assist, an ostensibly nonpolitical job that’s grow to be more and more politicized lately with management of the company altering with every new presidential administration.

“Over my tenure, we offered pupil mortgage forgiveness to greater than 4,000,000 debtors and their households; made it simpler for individuals to use for and handle federal pupil support; and took sturdy actions to carry colleges accountable for defrauding college students,” Cordray stated in an announcement. “I’ve agreed to remain on for an interim interval to assist with the transition.”

Cordray’s three-year appointment ends in early Might, and he determined to not proceed for one more time period, in accordance with a division official.

A former Ohio legal professional common and former director of the Client Monetary Safety Bureau, Cordray took over the Workplace of Federal Pupil Assist in Might 2021. As chief working officer, he oversaw the restart of pupil mortgage funds, the Biden administration’s debt aid efforts and different tasks. As the size of the FAFSA fiasco grew to become clear, Congressional Republicans laid the blame at his ft and referred to as for his ouster.

“It’s time for Cordray to go and for the division to get up and notice that blindly following Biden’s agenda is irreparably damaging pupil success,” Consultant Virginia Foxx, the North Carolina Republican who chairs the Home Committee on Schooling and the Workforce, stated earlier this month.

The Schooling Division stated earlier this month that it was not the time to level fingers.

Cardona stated in an announcement that he was grateful for Cordray’s three years of service, “wherein he achieved extra transformational modifications to the coed support system than any of his predecessors.” The assertion particularly highlighted modifications to repair the Public Service Mortgage Forgiveness in addition to income-driven reimbursement packages. Cardona famous that Cordray additionally revitalized the FSA Enforcement Unit.

“It’s no exaggeration to say that Wealthy helped change thousands and thousands of lives for the higher,” Cardona stated.

One venture left off the record of Cordray’s accomplishments? FAFSA.

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.