HomeMy WebLinkAboutResolutions - 2026.08.13 - 43132
AGENDA ITEM: Funding Appropriation for Milestone #2 and Milestone #3 of the Oakland County
Student Debt Relief Initiative with SAVI Solutions Public Benefit Corporation
DEPARTMENT: Board of Commissioners
MEETING: Board of Commissioners
DATE: Thursday, August 13, 2026 9:30 AM - Click to View Agenda
ITEM SUMMARY SHEET
COMMITTEE REPORT TO BOARD
Resolution #2026-6854
Motion to authorize a one-time appropriation in the amount not-to-exceed $300,000 from the
General Fund/General Purpose (GFGP) Unassigned Fund Balance to the Board of Commissioner
Department – Professional Services account to support the milestone-based funding structure
outlined in contract No. 011039, Milestone #2 and Milestone #3 with SAVI Solutions PBC; further,
amend the FY 2026 – FY 2028 budget as detailed in the attached Schedule A.
ITEM CATEGORY SPONSORED BY
Contract Brendan Johnson
INTRODUCTION AND BACKGROUND
Oakland County launched the Student Debt Relief Initiative to address the financial burden of
student loan debt among residents and County employees. The program provides personalized
student loan repayment guidance, access to federal loan forgiveness opportunities, and financial
education resources. The agreement between Oakland County and SAVI established a
performance-based expansion model, allowing the program to scale based on demonstrated
demand and measurable outcomes.
The Board of Commissioners approved funding for Milestone #1 through the adoption of MR #2026-
6479. According to the latest data provided by SAVI, since the December 1, 2025, contract
amendment, more than 5,000 new users have registered for the program in Oakland County —
more than doubling participation from last year. Additional program outcomes are detailed in the
attached Impact Report.
This level of participation has satisfied the contractual requirements for two additional performance-
based funding milestones, Milestones #2 and #3, each valued at $150,000. Consistent with the
agreement, payment of these milestones is contingent upon approval by the Board of
Commissioners.
Financial Impact
The total financial impact of this request is $300,000 for FY 2026.
POLICY ANALYSIS
FISCAL IMPACT: Budget Amendment Attached
Committee members can contact Barbara Winter, Policy and Fiscal Analysis Supervisor at
248.821.3065 or winterb@oakgov.com or the department contact persons listed for additional
information.
CONTACT
Michael Andrews, Chief of Staff
ITEM REVIEW TRACKING
Aaron Snover, Board of Commissioners Created/Initiated - 8/13/2026
AGENDA DEADLINE: 07/30/2026 4:30 PM
ATTACHMENTS
1. BOC - 2026-6854 Funding for Student Debt Relief SAVI Milestone #2 & #3 - Schedule A
2. Oakland County June 2026 Report
3. Invoice_INV_4500_from_Savi_Solutions_PBC
4. Invoice_INV_4656_from_Savi_Solutions_PBC
COMMITTEE TRACKING
2026-08-05 Legislative Affairs & Government Operations - Forward to Finance
2026-08-06 Finance - Recommend to Board
2026-08-13 Full Board - Adopt
Motioned by: Commissioner Brendan Johnson
Seconded by: Commissioner Penny Luebs
Yes: Charles Cavell, Ann Erickson Gault, Marcia Gershenson, Brendan Johnson, Penny Luebs,
Gwen Markham, William Miller III, Kristen Nelson, Angela Powell, Yolanda Smith Charles, Linnie
Taylor, David Woodward (12)
No: Robert Hoffman, Karen Joliat, Christine Long, Robert Smiley, Michael Spisz (5)
Abstain: None (0)
Absent: Michael Gingell, Philip Weipert (2)
Passed
Oakland County, Michigan
Board of Commissioners - 2026-6854 Funding Appropriation for Milestone #2 and Milestone #3 of the Oakland County Student Debt Relief Initiative with SAVI Solutions Public Benefit Corporation
Schedule "A" DETAIL
R/E Fund Name Division Name
Fund #
(FND)Cost Center (CCN) #
Account #
(RC/SC)
Program #
(PRG)Grant ID (GRN) #
Project ID
# (PROJ)
Region
(REG)
Budget
Fund
Affiliate
(BFA)
Ledger
Account
Summary Account Title
FY 2026
Amendment
FY 2027
Amendment
FY 2028
Amendment
R General Fund Non Departmental Operations FND10100 CCN9010101 RC665882 PRG196030 665882 Planned Use of Fund Balance $300,000.00 $-$-
Total Revenues $300,000.00 $-$-
E General Fund Board of Commissioners FND10100 CCN5010101 SC731458 PRG180010 730000 Professional Services $300,000.00 $-$-
Total Expenditures $300,000.00 $-$-
Premium Savi Users by Year
0 1000 2000 3000 4000 5000 6000
2024
2025
2026
748
2624
5705
Total Savi Engagement, # of Oakland Residents Served
Education Content Savi Events
0 5000 10000 15000 20000 25000
2024
2025
2026
3160
14888
23069
O A K L A N D C O U N T Y
P A R T N E R S H I P
S a v i p r o j e c t s t h a t 2 0 -3 0 % o f O a k l a n d C o u n t y r e s i d e n t s m a y
h a v e s t u d e n t l o a n s a n d a r e i n n e e d o f s u p p o r t . S i n c e o u r
O c t o b e r 2 0 2 4 l a u n c h , w e ’v e i m p a c t e d o v e r 2 0 ,0 0 0 r e s i d e n t s
t h r o u g h o u r e d u c a t i o n a l c o n t e n t a n d g u i d a n c e t o o l .
J U N E 2 0 2 6SAVI I M P A C T R E P O R T //
a v e r a g e s a v i n g s p e r y e a r f o r
O a k l a n d r e s i d e n t s
$1 ,6 9 1 .5 2
S A V I S A V I N G S
$9 .6 m i l l i o n
t o t a l p r o j e c t e d a n n u a l
s a v i n g s f o r O a k l a n d
r e s i d e n t s i n 2 0 2 6
$6 7 .8 m i l l i o n
t o t a l O a k l a n d s t u d e n t l o a n
d e b t s y n c e d t o S a v i
2 2 ,4 7 6
t o t a l O a k l a n d r e s i d e n t s w h o
h a v e e n g a g e d w i t h S a v i v i a t h e i r
a c c o u n t , o u r e d u c a t i o n a l
c o n t e n t , r e s o u r c e s , a n d e v e n t s .
U P C O M I N G E V E N T S
A u g u s t A l l U s e r W e b i n a r - Y o u r
Q u e s t i o n s A n s w e r e d : J o i n u s f o r
a l i v e t o w n h a l l w h e r e w e 'l l
t a c k l e i m p o r t a n t q u e s t i o n s
b e i n g a s k e d b y o u r u s e r b a s e .
T h i s e d u c a t i o n a l e v e n t w i l l
s e r v e a s a g r e a t r e s o u r c e f o r
k e e p i n g y o u r e m p l o y e e s a n d
r e s i d e n t s u p d a t e d o n t h e l a t e s t
s t u d e n t l o a n n e w s .
W e b i n a r D a t e : W e d n e s d a y ,
A u g u s t 5 t h a t 4 :0 0 p m E T
F E D E R A L S T U D E N T L O A N C H A N G E S N O W
O F F I C I A L :
O N E B I G B E A U T I F U L B I L L A C T I M P A C T S
G R A D U AT E P L U S LOA N S W I L L B E E L I M I N AT E D F O R
S T U D E N T LOA N B O R RO W E R S E F F E C T I V E 7 /1 /2 6 .
N E W Y E A R LY A N D L I F E T I M E B O R ROW I N G L I M I T S :
G R A D U AT E S T U D E N T S : $2 0 ,5 0 0 /Y E A R , $1 0 0 ,0 0 0
L I F E T I M E
P RO F E S S I O N A L S T U D E N T S : $5 0 ,0 0 0 /Y E A R ,
$2 0 0 ,0 0 0 L I F E T I M E .
PA R E N T P L U S : $2 0 ,0 0 0 /Y E A R , $6 5 ,0 0 0 L I F E T I M E
(P E R D E P E N D E N T ).
N E W F O R B E A RA N C E R U L E : CA P P E D AT 9 M O N T H S I N
A N Y 2 4 M O N T H P E R I O D.
Please ACH or Wire payment to:
Savi Solutions PBC
1032 15th St NW , #282
W ashington, DC 20005
Bank of America
Account num ber : 226007461565
Routing num ber : 054001204 (paper & electr onic) 026009593 (wir es)
Page 1 of 1
Savi Solutions PBC
1032 15t h St NW, #282
W as hington, D C 20005
s avis olut ions @dis trict cpa.c om
INVOICE
BILL TO
O akland County
INVOICE INV- 4500
DATE 06/17/2026
TERMS Net 30
DUE DATE 07/17/2026
DESCRIPTION QTY RATE AMOUNT
2nd Milestone for reaching 3,000 total new users 1 150,000.
00
150,000.00
BALANCE DUE $150,000.00
Please ACH or Wire payment to:
Savi Solutions PBC
1032 15th St NW , #282
W ashington, DC 20005
Bank of America
Account num ber : 226007461565
Routing num ber : 054001204 (paper & electr onic) 026009593 (wir es)
Page 1 of 1
Savi Solutions PBC
1032 15t h St NW, #282
W as hington, D C 20005
s avis olut ions @dis trict cpa.c om
INVOICE
BILL TO
O akland County
INVOICE INV- 4656
DATE 07/31/2026
TERMS Net 30
DUE DATE 08/30/2026
DESCRIPTION QTY RATE AMOUNT
3rd Installment Fee for reaching 4,000 total new users.1 150,000.
00
150,000.00
BALANCE DUE $150,000.00