Richard Cordray Resigns from $1.6 Trillion Federal Student Aid Role

Richard Cordray, the head of the Federal Student Aid office, has announced his resignation from his role overseeing $1.6 trillion in federal student loans. Cordray's departure follows challenges associated with the introduction of the new FAFSA forms. During his three-year tenure, he implemented significant transformations in the student aid system, achieving more than any of his predecessors, according to Secretary of Education Cardona. Virginia Foxx also released a statement regarding Cordray's departure.