Education Secretary Betsy DeVos is only further showing her stupidity with her latest stunt. She has hired on a for-profit CEO of a private student loan company to lead the department’s student loan system.
The New COO is…
The person named to head the Federal Student Aid (FSA) is founder and chief of Reunion Financial Services, A. Wayne Johnson. The company originates and refinances private student loans. Funnily enough that particular credential is absent from the Education Department’s press release on Tuesday morning that announced his appointment:
WASHINGTON—Today, U.S. Secretary of Education Betsy DeVos announced her intent to appoint Dr. A. Wayne Johnson as Chief Operating Officer of Federal Student Aid (FSA). Dr. Johnson is a highly regarded leader with more than 30 years of experience in the financial services industry and holds a Ph.D. in higher education leadership.
Johnson’s apparent dissertation focused on students’ decision-making process for taking out student loans according to DeVos. Like that makes a difference. DeVos said in a statement that “Wayne is the right person to modernize FSA for the 21st century” as well as, “He actually wrote a book on student loan debt and will bring a unique combination of CEO-level skills and an in-depth understanding of the needs and issues associated with student loan borrowers and their families.”
Didn’t know writing a book automatically qualifies you for a job. CEO-level skills? Education should never be likened to a business since people who are educated are the ones who try and prevent people like Trump and DeVos from being in power. Johnson is taking the place of James Runcie who abruptly resigned last month over a dispute with DeVos. Good for him. He also refused to testify before the House Oversight Committee about the agency’s rising problems of improper payments for federal student aid programs.
Anyone who has student loans look out, this may be a terribly bumpy ride.