Last week, the long-awaited write-off for millions of borrowers of student loans was finally announced.

Note these important dates on your calendar—

Millions of borrowers should be eligible to start applying for student loan forgiveness by the end of the month.

On August 24, Biden offered widespread student loan forgiveness after serving in office for more than 18 months.

Early October is when the application process to request the relief will be ready, according to the Edu dept.

CNBC advised applicants to submit their claims by November 15 at the latest.

The interest and payments will resume after December 31, 2022.

The authority established a preliminary deadline of December 31, 2023, for any borrowers who wish to apply for support.

AGI can be different from their gross pay, will be taken into account by the Education Department.

Look for line 11 on the front page of your tax return, often known as Form 1040, to determine your AGI for 2020 and 2021.

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