(NEXSTAR) – Millions of Americans will soon be forgiven of much, if not all, of their student loans. But since President Biden announced his student debt forgiveness plan last week, one of the biggest remaining questions is when borrowers will get relief.

Based on income data already accessed by the Department of Education, we know that up to 8 million borrowers could automatically qualify for relief. Forms must be submitted for the remaining 35 million borrowers the White House considers eligible for student loan forgiveness.

What we didn’t know was exactly when that form would be available and how long it would take for the loan forgiveness to be approved and pushed forward.

Secretary of Education Miguel Cardona answers.

in the post of twitter, Cardona explained that forgiveness becomes “as easy as 1, 2, 3.” He then outlined what the process would look like.

Applications will open in early October for borrowers who must submit the information required by the Department of Education.

After you submit that form (we don’t know what it’s like, but officials indicate it’s short), Cardona says relief can be expected within four to six weeks.

You must apply for loan forgiveness by the end of 2023, according to the Department of Education, but you have until November 15, 2022 to complete an application to receive student debt relief before the suspension of payments ends. is needed.

In addition to announcing student loan forgiveness last week, President Biden has extended a payment moratorium through the end of the year. Biden said it would be the last time the moratorium enacted by then-President Trump in March 2020 will be extended.

Borrowers won’t be able to do much until applications open in October. However, you can register to be notified when applications become available through the Department of Education by completing this form.

There are several factors that determine the student loan forgiveness amount. You can check them here.

In addition to the student loan forgiveness, the Biden administration will also introduce new rules to create income-driven repayment plans that will slash future monthly payments for low- and middle-income borrowers, as well as public service loans. I proposed a long-term change. forgiveness program.