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DeVos Appointee to Head Student-Loan Program Has Done His Homework

A. Wayne Johnson, a former financial services CEO, wrote a dissertation in his 60s on how students decide to take on debt

U.S. Secretary of Education Betsy DeVos on Tuesday announced plans to appoint A. Wayne Johnson, a former executive in the financial-services industry, to run the $1.3 trillion federal student loan portfolio.

The position of chief operating officer of federal student aid has been vacant since May when James W. Runcie resigned, saying he couldn’t in “good conscience” lead the agency while it was facing rising scrutiny from the Trump administration about its management of the lending programs.


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