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Biden administration taps Richard Cordray as student loan chief

May 3, 2021. Summarized by summa-bot.

Compression ratio: 17.2%. 1 min read.

The Department of Education announced Monday that Richard Cordray will be the chief operating officer of federal student aid, a high-profile position within the office responsible for managing the government's student financial assistance and loan programs.

Washington (CNN)The Department of Education announced Monday that Richard Cordray will be the chief operating officer of federal student aid, a high-profile position within the office responsible for managing the government's student financial assistance and loan programs.

The Biden administration has faced pressure from several Democratic lawmakers to cancel $50,000 per student loan borrower.

During Cordray's tenure at the Consumer Financial Protection Bureau, he made it a priority to protect student loan borrowers.

"I am thrilled that Richard Cordray will be joining the Department of Education as the Chief Operating Officer of Federal Student Aid. It is critical that students and student loan borrowers can depend on the Department of Education for help paying for college, support in repaying loans, and strong oversight of postsecondary institutions," Cardona said.

by summa-bot

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