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Last Minute Student Loans - The staff of 'The Big Sunday Show' is hard at work on the 'change' in Biden's student payment plan and the House of Representatives is opposing a vote to ban members of Congress from trading stocks.

The decision to immediately cut off more than 700,000 borrowers from President Biden's $500,000 student loan bill could make it more difficult for opponents of the policy to challenge it in court, and some say the change was made because .

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Shortly after Biden announced the policy, officials said the loan forgiveness would only apply to borrowers who included their debt with the Department of Education. At the end of this period, more than 700,000 borrowers did not qualify for the report because their loans were still managed by private companies.

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Shortly before the change was announced, Nebraska and five other states filed a lawsuit saying their budgets would be affected by the report. Those states have argued they have standing to sue because billions of dollars in public pension funds are invested in private companies that manage many of the student loans, and Biden's job will make these companies worse off and make the money more expensive. low.

Legal experts told Fox News Digital that by making loans from these companies ineligible for forgiveness, the Biden administration would have eliminated six states from a single program, held up in court and could help the law mount a challenge. early judicial.

The White House's decision to cut more than 700,000 borrowers from President Biden's student loan program could make the legal case more difficult. (Paul Morigi/Getty Images for our 45 yards)

"By eliminating private lenders, they may have cut off the right to sue some investors, financial institutions and state governments who could argue they would be adversely affected by the proposal," said Jack Fitzhenry, a legal analyst. of the Heritage Foundation.

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"This makes it very difficult for states and private debt management companies to sue for lost revenue," Fitzhenry said.

Policy experts said this is not the first time the White House has revised an inconsistent version of the report in response to legal challenge. One of the first legal challenges filed against a report is from a creditor who may have to pay tax on the report because their state is in the process of canceling their income-based debt.

Biden first announced plans in August to waive between $10,000 and $20,000 for borrowers making less than $125,000 a year. (Bonnie Cash/UPI/Bloomberg via Getty Images)

"When the lawsuit was filed, there was no indication that borrowers could opt out of the website that was being created to provide information," said Beth Akers, senior fellow at the American Enterprise Institute. "After the lawsuit, the website was updated to say you could opt out and that would be enough to eliminate the lawsuit."

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The White House has updated the report several times since Biden first announced plans in August to forgive up to $10,000 for borrowers making less than $125,000 a year and up to $20,000 for family members who earn less than $250,000. .

The reforms have been widely criticized by policy experts, some of whom have argued that the administration appears unprepared to expand the program. Now some say that perhaps the White House's strategy is more creative than it first appeared.

Policy experts say this is not the first time the White House has revised a negative version of the report in response to legal challenge. (iStock)

"I think it's a mistake to look at all the apparent contradictions and conclude that none of them were intentional," Fitzhenry said. "Not everything is intentional, but at least some of it appears to be creative. They're tweaking the proposal in time to make sure it lasts." Written by Hanneh Bareham Written by Hanneh BarehamArrow Post Legal Student Loans Hanneh Bareham specializes in all matters related to personal and student loans and helps you finance your next venture. It aims to help others achieve their goals and finances by making loans easier to understand. Connect with Hanneh Bareham on Twitter Connect with Hanneh Bareham on LinkedIn Linkedin Contact Hanneh Bareham on Email Email Hanneh Bareham

Student Loan Forgiveness: Judge Hears Case On Whether Biden's Plan Can Move Forward

Edited by Chelsea Wing Edited by Chelsea WingArrow Student Loans Chelsea Law has been around since early 2020. It is invested in helping students navigate the high cost of college and demystify the complexities of student loans. Connect with Chelsea Wing on LinkedIn Linkedin Chelsea Wing

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U.s. Forgives 40,000 Student Loans, Provides Aid To 3.6 Million More

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Whether your financial situation has changed rapidly or you're not getting as much financial aid as you'd like, there may be situations where you need money for college fast. If you're close to the start of the semester and you're feeling down, don't panic; there are several places where you can find money at the last minute.

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Consider these last steps to get money for college when you're in a pinch and need extra cash.

If you haven't already, submit the Free Application for Federal Student Aid. This form determines your eligibility for federal and state services. It may open up opportunities for government loans, grants or job training.

Some grants are offered on a first-come, first-served basis, so you may not be eligible for anything if you apply late. However, you can still apply until 30 June of the academic year in which you need funding - so if you need funding in the spring, you can apply even if you've already passed the school year. Some states and schools set their own deadlines.

If your school uses a CSS profile, consider completing it to get help from the school. Not all schools use the CSS profile, which is different from the FAFSA, so check with your school first.

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Your school's financial aid office is responsible for communicating your financial aid package. This office can be a great resource if you don't know where to start looking for help. It can help you track your aid options or tuition plans.

The financial aid office is also a good place to check for school-specific scholarship opportunities. Most financial aid agencies

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