Richard Cordray is Biden's pick to oversee federal student loans

This post was originally published on this site

President Joe Biden is assessing how the U.S. might tackle student debt. Here’s where he stands on the issue. USA TODAY

COLUMBUS, Ohio – President Joe Biden’s administration has picked Richard Cordray to oversee federal student loans. 

Cordray, who previously led the Consumer Financial Protection Bureau, will serve as the chief operating officer of Federal Student Aid, a key role managing a $1.5 trillion portfolio as progressives push Biden to cancel student loan debt. 

Massachusetts Sen. Elizabeth Warren, an ally of Cordray’s, praised the pick, saying on Twitter: “I’m very glad he’ll be protecting student borrowers and bringing much-needed accountability to the federal student loan program.”  

U.S Secretary of Education Miguel Cardona said Cordray had a strong track record as a public servant: “I am confident that under his leadership, Federal Student Aid will provide the kind of service that our students, families and schools deserve.”

Cordray is known in Ohio for serving as the state’s attorney general and treasurer. In 2018, he ran against then-Ohio Attorney General Mike DeWine, ultimately losing the governor’s race. 

Cordray recently released a book titled “Watchdog: How Protecting Consumers Can Save Our Families, Our Economy, and Our Democracy” about his time at the CFPB. 

Read or Share this story: