Under criticism that it has been lax in policing the $85 billion student loan industry, the Education Department announced yesterday that the chief official responsible for overseeing the loan program, Theresa S. Shaw, was stepping down.
This from the New York Times.
"As head of Federal Student Aid, Terri has been a tireless advocate for students and families," said Secretary Spellings. "Her leadership and depth of experience will be sorely missed. She made performance and results a top priority, establishing performance standards, metrics and reporting at every level. FSA now delivers more aid to more students at a lower operating cost with greater accuracy than at any point in its history."
Froim Spelling's press release.