The sudden decision to cut out more than 700,000 borrowers from President Biden's $400 billion student loan handout could make it harder for opponents of that policy to challenge it in court, and some say the change appears to have been made precisely for that reason. Soon after Biden's policy was announced, officials said loan forgiveness would only apply to borrowers who consolidated their debts under the Department of Education.That last-minute change made more than 700,000 borrowers ineligible for the handout because their loans are still managed by private companies.