![]() ![]() "We recognize that the stakes are extremely high as we face this challenge," Cordray declared.Ĭordray's position in the FSA could be temporary. ![]() In relation to the repayment return date of January 1, Cordray stated that FSA's job will be in the form of an "communications campaign" to ensure that borrowers have the necessary information needed to start repaying their debts. He said he's continuing to supervise the cancellation of student loans for specific groups of borrowers, including the ones who are cheated by for-profit institutions and those with disabilities, as well as supervising the Education Department's latest revamp of its Public Service Loan Forgiveness (PSLF) program, which is a way to forgive students' debts for public servants, such as teachers for a period of ten years after eligible payments. "Instead, I will simply say it is a decision for the White House to make, not for me. "On general loan forgiveness, many people seem to have a great deal to say, but as the chief of FSA, I do not," Cordray declared. Cordray clarified, however that, while he's "deeply involved" in the return to repayment process and helping to facilitate targeted program for loan forgiveness, a broad program of student debt cancellation for all borrowers is not within His job descriptions. ![]()
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