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Richard Cordray, the head of the Federal Student Aid office, has announced his resignation effective the end of June following significant issues with the botched rollout of the new FAFSA forms. Criticized for the problematic launch that involved delays and errors, Cordray's departure marks a turbulent period for the office, which oversees $1.6 trillion in federal student loans. His tenure, which began in 2021, faced challenges in simplifying the financial aid application process, a task that has been scrutinized under the Biden administration. Cordray, who previously led the Consumer Financial Protection Bureau, has not disclosed his future plans.
Richard Cordray, who has led the Federal Student Aid office since 2021, is stepping down amid withering criticism of his office’s rollout of the new FAFSA, which suffered delays and errors that upended the college admissions process for scores of families. https://t.co/raOIgAY2rE
Richard Cordray, the official in charge of the Federal Student Aid office, which oversees the FAFSA, will conclude his tenure at the end of June. https://t.co/SywepnAB9d
Richard Cordray, Biden administration official responsible for botched FAFSA overhaul, steps down https://t.co/Ud84AHFENd https://t.co/wv8puVqU1P
