University of California funds generous home loans for faculty

The Sacramento Bee reports:

When UC Berkeley law school professor Mark Gergen was considering a move from Texas in 2007, the biggest factor in his decision was the quality of the institution.

But a low-interest home loan offered by the University of California, which helped him buy into the expensive Bay Area market, certainly helped.

“It was a material factor,” Gergen said. “It made it much easier to persuade my wife.”

Since 1984, more than 6,000 UC professors and nearly 200 executives have saved thousands of dollars a year through a university program to assist them in purchasing residences near the campuses where they work.

They really gets special privileges that most in society don't.