Richard Cordray Steps Down from Federal Student Aid
WASHINGTON, DC – Richard Cordray, the chief operating officer of the U.S. Department of Education’s Federal Student Aid office, announced late last week that he was resigning from the agency. He is expected to formally leave his post at the end of June. Michael Calhoun, president of the Center for Responsible Lending, issued the following statement: Richard Cordray’s leadership was transformational. Since starting his tenure in 2021, he improved the application process for programs like Public Service Loan Forgiveness and Income Driven Repayment, helping millions of eligible borrowers receive