COLUMBUS – President Joe Biden's administration picked former Ohio gubernatorial candidate Rich 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.”