Signing Bonus for Navy 2 year HPSP

[NavyFP]

Interesting news. Navy is now offering $20,000 for students graduating in 2009 who sign for a 2 year HPSP scholarship. Sweetens the pot a little.

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[BuckyBoy_DDS]

Isnt the minimum you have to serve is 3 years? So why not just take the 3 year HPSP then? Sounds like trying to confuse people..

 

[NavyFP]

Isnt the minimum you have to serve is 3 years? So why not just take the 3 year HPSP then? Sounds like trying to confuse people..

No the minimum you have to serve with the bonus is 4 years, but intern year and other training counts toward that payback. Obligated service is just plain confusing. They don't have to do anything special to confuse people.

 

[Bubblehead-to-MD]

Interesting news. Navy is now offering $20,000 for students graduating in 2009 who sign for a 2 year HPSP scholarship. Sweetens the pot a little.

Is this news official? What was your source? From what I understand, the Navy has been seeking authorization to increase the HPSP benefits, but has not yet obtained it.

Thanks!

 

[Sarg's kid]

Is this news official? What was your source? From what I understand, the Navy has been seeking authorization to increase the HPSP benefits, but has not yet obtained it.

Thanks!

I spoke to a Navy recruiter two weeks ago who told me the same thing. She also said it was applicable to all branches, not just Navy. I don't have an official source, and it was a recruiter, but it sounds like it's legit.

 

[NavyFP]

Is this news official? What was your source? From what I understand, the Navy has been seeking authorization to increase the HPSP benefits, but has not yet obtained it.

Thanks!

It is official. Saw the letter to Recruit Command allowing them to offer it. My understanding Army and AF are not offering this.

 

[Poseidon]

What about those of us who already signed an HPSP contract? Seems like if there is money, they should raise our stipend!

 

[NavyFP]

What about those of us who already signed an HPSP contract? Seems like if there is money, they should raise our stipend!

It will cost about $400K for this, if you divide that up between all the HPSP students, you would get an extra $30 per month. Not much bang for the buck.

 

[Croooz]

What about those of us who already signed an HPSP contract? Seems like if there is money, they should raise our stipend!

Basically you're out of luck. You already signed. This is for the new blood coming in.

 

[BOHICA-FIGMO]

Thanks for keeping us up to date with the latest insider information, NavyFP. Too bad to hear those of us already signed are SOL.

 

[Bubblehead-to-MD]

It is official. Saw the letter to Recruit Command allowing them to offer it. My understanding Army and AF are not offering this.

Thanks for the info! I'm still trying to decide whether or not to do HPSP or USUHS. I have 10 years of active duty service right now, but after reading about the many problems within mil med in this forum, and through experiencing some through my wife, I am having my doubts.

 

[Croooz]

Thanks for the info! I'm still trying to decide whether or not to do HPSP or USUHS. I have 10 years of active duty service right now, but after reading about the many problems within mil med in this forum, and through experiencing some through my wife, I am having my doubts.

Being former military something to seriously consider is the retirement. If you haven't started saving something from the beginning then that 50% of base isn't a bad deal. By the time you payback for HPSP you would only owe a few years more. With USUHS you would payback and retire.

It's all about the money when you already know what you're getting into. You have 10 years and nothing to show for it. Might as well make those years count for something.

Just a suggestion that XMilMD gave to me so I'm passing to. Take what is useful, discard the rest.