Oakland County, MI
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Contact Info
County Executive
248-858-0480
248-858-5400
Waterford, MI 48328
8:30am - 5:00pm
Bill Mullan
Media and Communications Officer
248-858-1048
mullanw@oakgov.com
Student Debt Relief
SIGN UP TODAY! Visit oakgov.bysavi.com to get started
More than 172,000 Oakland County residents have student loan debt, totaling about $6 billion. Through a partnership with Savi, a social impact technology startup, the county aims to help provide guidance on loan repayment and loan forgiveness. The service is free for one year to any Oakland County resident or Oakland County Government employee seeking assistance to manage college debt and get on a path to loan forgiveness. Oakland County is the first government agency in America to work with Savi to offer this benefit to all its residents.
Using the Savi portal is simple. It automatically creates digital forms and tailors' recommendations for debt consolidation by scanning more than 150 federal, state and private eligibility programs, showing borrowers what their payments should be. Savi users save on average $187 month, or $2,244 a year.
Oakland County itself is not relieving student debt. Rather, the Board of Commissioners is paying a flat fee of $500K to waive the Savi registration fee for any Oakland County resident or Oakland County government employee who signs up for debt help before the enrollment deadline. Online registration takes 10 minutes to complete. Participants would have to renew membership on their own in subsequent years. Savi works with more than 50 income-driven repayment plans, including some focused-on loan forgiveness. For more information, see the printable flyer.
Frequently Asked Questions
News & Updates
News
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UPDATE: Oakland County launches first-of-its-kind student debt relief initiative in partnership with Savi
Oakland County is helping to alleviate the financial burdens of student debt for county residents.
09/30/2024 12:27 PM
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Oakland County launches first-of-its-kind student debt relief initiative in partnership with Savi
The Board of Commissioners adopted a resolution at its July 18 meeting to allocate up to $500,000 for the program.
07/22/2024 12:02 PM
In the News
- Oct. 2, Michigan Advance: Oakland County connects residents to free student debt relief services
- Sept. 26, Oakland County Blog: Oakland County Tackling Student Debt
- Aug. 1, WDET: The Metro: New Oakland County program offering student debt relief for residents
- July 24, Oakland County Times: Oakland County Partners with Savi to Help Residents Find Solutions to Student Loan Debt
- July 22, Detroit Free Press: Oakland County to roll out online program to help those with student debt
- July 22, Detroit News: Oakland County launches first of its kind student debt relief initiative