Top Education Department official stepping down as college financial aid fiasco continues

The official in charge of federal financial aid is leaving the Department of Education after the disastrous overhaul of the Free Application for Federal Student Aid that has left students and families in limbo for months. DOE officials said Richard Cordray, the chief operating officer for Federal Student Aid, will step down at the end of June, USA Today reported Friday.

Incoming and current students and their families must complete the FAFSA if they want to receive federal financial aid at institutions of higher education in the next academic year. The Department of Education's implementation of the new FAFSA process has been beset by delays that have prevented the agency's Office of Federal Student Aid from processing FAFSA applications on time.

Cordray's announced departure comes as many high school seniors across the U.S. are still awaiting financial aid packages that should have been issued by now. SUCCESSFUL ENTREPRENEUR DITCHES COLLEGE DEGREE FOR 'HANDS-ON EXPERIENCE' In a statement to USA Today, Cordray touted the Biden adminstration's sweeping student loan forgiveness as the top achievement of his three years at the DOE.

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