Here’s how to sign up for federal student loan forgiveness updates before application goes live

More than 40 million Americans could see their student loan debt reduced under the forgiveness plan President Joe Biden announced last month.

In many cases, Americans could see their student loan debt completely eliminated. Biden is erasing $10,000 in federal student loan debt for people with incomes below $125,000 a year, or households that earn less than $250,000. He is canceling another $10,000 for people who received federal Pell Grants to attend college.

He also extended the pause on federal student loan payments for the “final” time. The pause will run through the end of the year and repayments are expected to resume in January.

Some, but not all, borrowers will have to apply for forgiveness. The application will be available by the end of the year. According to the White House, nearly 8 million borrowers may be eligible to receive the relief automatically because their relevant income data is already available to the department.

Here’s how to sign up for updates:

1. Visit ed.gov/subscriptions
2. Put your email address into the box
3. Click “NEW!! Federal Student Loan Borrower Updates”
4. Read and consent to the data privacy policy
5. Click “next”

Read: Answering the most common federal student loan debt forgiveness questions