Statement from U.S. Secretary of Education Miguel Cardona on Richard Cordray Stepping Down as Chief Operating Officer of the U.S. Department of Education office of Federal[...]

Statement from U.S. Secretary of Education Miguel Cardona on Richard Cordray Stepping Down as Chief Operating Officer of the U.S. Department of Education office of Federal Student Aid (FSA)

April 26, 2024

Contact: Press Office, (202) 401-1576, [email protected]

U.S. Secretary of Education Miguel Cardona today released the following statement on Richard Cordray stepping down as Chief Operating Officer of the U.S. Department of Education office of Federal Student Aid (FSA):

"We are grateful for Rich Cordray's three years of service, in which he accomplished more transformational changes to the student aid system than any of his predecessors. He undertook the work of fixing the broken student loan system programs like Public Service Loan Forgiveness and Income Driven Repayment, identifying 4 million borrowers who were eligible for loan forgiveness. He oversaw the development and implementation of the SAVE Plan, the most affordable way to repay your loans ever. He revitalized the FSA Enforcement Unit to hold schools accountable for cheating students and combated student loan scams. It's no exaggeration to say that Rich helped change millions of lives for the better.

"Rich will conclude his tenure at FSA at the end of June and will serve as Chief Operating Officer until then, in order to oversee the completion of key priorities within the organization. As his consequential tenure comes to an end, we thank Rich for his tireless work and commitment to provide the service that our students, families, and institutions deserve."

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