LOUISVILLE, Ky. (WDRB) -- As questions emerge about the White House's plans to forgive thousands of dollars of student loan debt for millions of Americans, experts believe it could take some time for that to actually happen. 

It could be 2023 before most borrowers see thousands of dollars knocked off their student loan debt, experts say.

While the IRS has the information needed to change the balances for some borrowers, loan companies and the federal government will likely need time to compile information about others.

"There's going to be a small form that people will have to attest, maybe sometime in September, as to whether or not they qualify," said Erin Klarer, Vice President of Government Relations for the Kentucky Higher Education Assistance Authority.

Experts also believe that one reason for extending the payment pause on student loans is to allow more time for the government to collect that information.

The White House has mentioned the form that could come in the next few weeks to help with locating the necessary information.

"We're having to deal with all sorts of individual situations that we just don't have clarity on just yet," Klarer said.

Additional concerns have been shared about who qualifies for this loan. As laid out by the White house, those with incomes below $125,000 a year, or households that earn less than $250,000 will have up to $10,000 of debt cancelled. President Biden is also canceling an additional $10,000 for those who received federal Pell Grants to attend college.

Those currently in college, who are dependents, also qualify if their parents make less than $250,000.

Student loans must have been dispersed by July 1, 2022 for them to be eligible for forgiveness.

KHEAA is urging incoming college students not to pile on debt with expectations it will be forgiven.

"The kids that are still in high school getting ready to go to college in '23, I hope that we don't have an expectation that they take out a whole lot of student loan debt and not expecting to pay because that's not the case," Klarer said.

Questions about the legality of the Biden administration's ability to forgive debt have national lawmakers considering legal battles. Industry experts believe that lawsuits are likely, and could cause the delay of loan forgiveness.

"I do think that somebody somewhere is going to challenge this in court and it may delay it even further," Klarer mentioned.

One of the chief political sticking points has been the cost: Biden’s new plan, including debt cancellation, a new repayment plan and the payment freeze, will cost between $400 billion to $600 billion, according to the Committee for a Responsible Federal Budget, a nonprofit that advocates for lower deficits.

AP writers Zeke Miller, Annie Ma and Sharon Lurye contributed to this report.