Upon approval of the sale, the servicer calculates the new loan balance, including the.5 percent funding fee, draws up the paperwork, and the transfer takes place. (themortgagereports.com)
This is because these plans are up to 93 percent funded by the states that provide them. (thecollegeinvestor.com)
Of the 40 percent funded through state and federal sources, roughly 30 percent comes from the state and 10 percent comes from the federal government — though those percentages change slightly each year. (voiceofsandiego.org)