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 by way of Getty Photos
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 Software for Federal Pupil Assist.
Cordray will lead the company by way of the tip of June, “with a view to oversee the completion of key priorities throughout the group,” the Training Division mentioned in a information launch late Friday morning. Training 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 may also add to the management churn at Federal Pupil Assist, an company throughout the division that manages the FAFSA and pupil mortgage applications. Cordray is the third individual in seven years to function chief working officer of Federal Pupil Assist, an ostensibly nonpolitical job that’s develop into more and more politicized in recent times with management of the company altering with every new presidential administration.
“Over my tenure, we supplied pupil mortgage forgiveness to greater than 4,000,000 debtors and their households; made it simpler for folks to use for and handle federal pupil support; and took sturdy actions to carry colleges accountable for defrauding college students,” Cordray mentioned in a press release. “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 line with a division official.
A former Ohio legal professional basic 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 reduction efforts and different initiatives. As the size of the FAFSA fiasco grew to become clear, Congressional Republicans laid the blame at his ft and known as for his ouster.
“It’s time for Cordray to go and for the division to get up and understand that blindly following Biden’s agenda is irreparably damaging pupil success,” Consultant Virginia Foxx, the North Carolina Republican who chairs the Home Committee on Training and the Workforce, mentioned earlier this month.
The Training Division mentioned earlier this month that it was not the time to level fingers.
Cardona mentioned in a press release that he was grateful for Cordray’s three years of service, “by which he achieved extra transformational adjustments to the coed support system than any of his predecessors.” The assertion particularly highlighted adjustments to repair the Public Service Mortgage Forgiveness in addition to income-driven compensation applications. Cardona famous that Cordray additionally revitalized the FSA Enforcement Unit.
“It’s no exaggeration to say that Wealthy helped change hundreds of thousands of lives for the higher,” Cardona mentioned.
One undertaking left off the listing of Cordray’s accomplishments? FAFSA.
