US Secretary of Education Miguel Cardona comments on Richard Cordray’s departure as COO of the FSA.

The U.S. Secretary of Education, Miguel Cardona, issued a statement today regarding Richard Cordray’s resignation as the Chief Operating Officer of the U.S. Department of Education’s office of Federal Student Aid (FSA):

“We appreciate Rich Cordray’s three-year term, during which he instigated significant changes to the student aid system, surpassing his predecessors. He dedicated efforts to repairing the faulty student loan system, enhancing programs like Public Service Loan Forgiveness and Income-Driven Repayment, outlining 4 million qualified borrowers for loan forgiveness. He supervised the establishment and execution of the SAVE Plan, the most economical loan repayment method available. He reenergized the FSA Enforcement Unit to enforce school integrity, target student scams, and enhance student loan protection. It is undeniable that Rich positively impacted millions of lives.”

“Rich’s tenure at FSA will cease at the end of June, during which he will continue as the Chief Operating Officer to oversee pivotal organizational objectives. As his influential term draws to a close, we commend Rich for his unwavering dedication to delivering exemplary service to our students, families, and institutions.”