He steadily worked toward his goal of reforming the student financial system and played a valuable role in nearly every major federal student-aid program in our nation's history, from Pell Grants in 1972 to the Academic Competitiveness and SMART Grants for high-achieving low-income students in 2006.
As they put it, the student loan system, is a mess because, at its current rate, aggregate student debt is doubling every seven years (and growing much faster than other forms of debt which traditionally dwarfed student loans), student loan default rates are rising, and a large portion of student borrowers is in poor financial shape, even after graduating from college.
Before I took office, we had a student loan system where tens of billions of taxpayer dollars were going to subsidize banks in the student loan program instead of going to students.
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The government has been considering various ways of reforming the student support system since last autumn.
The student loan system is facing sustained "phishing" attacks, with 1, 400 websites shut down this year.
For a long time, our student loan system has worked for banks and financial institutions.
The government says the move is designed to prevent abuse of the student immigration system.
The student loan system has become a target for fraudsters, with the police pursuing extensive phishing operations.
The government is set to effect UK-wide changes to the student immigration system following a public consultation.
They reflect the tightening up of the student visa system which was, and still is, open to flagrant abuse.
Immigration minister Phil Woolas recently admitted that the student visa system is "the major loophole in Britain's border controls".
But the student loan system as currently designed offers little to no support for borrowers trying to navigate the repayment process.
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Before I took office, we had a student loan system where tens of billions of taxpayer dollars were going to banks, not students.
It believes the student visa system could be abused by people who want to come to Britain but have no intention of studying.
However, Mr Rich said the current pattern was likely to continue, where one-quarter of student debt is held outside the student loans system.
But it is also likely to raise concerns about inequalities in the student funding system - with different students facing different levels of debts.
The memo went out earlier this week as part of an effort to reform the student visa system, said the official, who spoke on condition of anonymity.
Under Mayor Michael Bloomberg and Schools Chancellor Joel Klein, New York City, for example, has been making Herculean efforts to turn around its failing million-student school system.
And that's why he fought to reform the student loan system that gave billions to banks and lobbyists, to ensure that those savings were going back to students.
This is what removing bankruptcy protections has led to, and what must be corrected if there is to be any hope for the viability of the student loan system going forward.
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For example, the student visa system, which admits half a million non-EU students a year, needs a much more effective means of testing whether the applicants are genuine and intend to return home.
"Steps to reduce abuse of the student visa system are welcome but if the government's net migration target is to be met, they also need there to be a dramatic fall in the numbers of genuine students, " said Sarah Mulley from the Institute of Public Policy Research.
We might not all agree that student loan debt should be forgiven but I think most folks are of like minds that, if the federal government continues to promote loans over grants as the way to finance college, then Americans deserve a student loan system that, at the bare minimum, empowers borrowers to take control of the debt management experience.
FORBES: Student Loan Borrowers Need Help to Understand Repayment Rights
My overriding concern has been to see a student-centric system emerge that can flexibly and affordably respond to different student needs so that students can realize their fullest human potential.
Government attempts to tighten the student-visa system attracted criticism from two reports by MPs within the past week.
Changes to the student-visa system this year have left thousands of foreign students stranded at home and as angry as wet cats.
The critical thing is to fashion a student-centric system powered by digital learning that allows each child to realize his or her fullest human potential.
And to transition successfully to a student-centric system powered by digital learning, those teachers will need to be contributing in more meaningful and rewarding ways than ever before.
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To those who work in schools and districts and in other areas of the K-12 education system, send me a note or post a comment here or via Twitter on what regulations create difficulty in innovating toward a student-centric system that allows each child to realize her human potential.
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Instead we need to be doing what an increasing number of schools like another Arizona-based school, the Carpe Diem Collegiate High School and Middle School, are doing and disrupting that flawed paradigm by implementing online learning to create a student-centric system not to increase costs for the community through bond measures or otherwise, as the article reports but to use existing resources to prioritize student learning and achieve great results.
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