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The assistance may be paid in one lump sum or over a period not to exceed ten years in equal, unequal, or declining balance amounts.
The maximum assistance amount is indexed based upon salary increases for faculty. The eligible population for the program is full-time University appointees who are members of the Academic Senate or who hold equivalent titles and Acting Assistant Professors. Campuses have cash advance store highland ave jackson tn option to require repayment of a portion of the housing allowance in the event that the recipient leaves University employment prior to a specified date.
(Formerly known as the Salary Differential Housing Allowance Program). Graduated Payment Mortgage: The Graduated Payment Mortgage (GP-MOP) is an alternative loan product under the Mortgage Origination Program (MOP) that results in an initial lower interest rate (Borrower Rate) than the most recently published MOP rate (Standard Rate). The initial Borrower Rate is stated as a percentage below the Standard Rate, subject to a 2.
75 minimum rate. The stated reduction in the Standard Rate is known as the Interest Rate Differential. The Interest Rate Differential is established to decrease annually between 0.
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