HPSP Stipend

[RDC12304]

Does anyone know where I can find a history of the HPSP Stipend (say, over the past 10 years or so)? Just curious as the the rate and frequency with which increases take place. (Future projections would be nice...but I am aware that it is not available and is subject to change each july per the DOD Budget).



P.S. Before anyone mentions it, this post does not mean that I am interested in HPSP solely for the money - but, if I was to do HPSP, the money is a nice biweekly addition to my bank account. I am just interested in how much more $ has been invested in HPSP (by way of stipend) students over the past 10 years or so.

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[Milamber]

I have a question about the stipend as well. I'm moving to a state (PA) with a lower tax rate than the one I am in (NY). So I would like to pay less in taxes so how do I go about changing my home of record address so that when I begin reciving my stipend and bonus I'll have it set up for PA rather than NY. Thanks

 

[J123]

I have a question about the stipend as well. I'm moving to a state (PA) with a lower tax rate than the one I am in (NY). So I would like to pay less in taxes so how do I go about changing my home of record address so that when I begin reciving my stipend and bonus I'll have it set up for PA rather than NY. Thanks

Home of record and legal residence are 2 separate things. Home of record is where you entered the military and to where (either to that place or the same distance) you'll go when you leave the military. Legal residence is often the same as the home of record when you enter the military, but can change should the member move with the intent to permanently leave that place. This publication came out several years ago that is helpful in explaining the differences. Ultimately, you'll need to contact your local finance office to get things finalized.

http://www.army.mil/publications/soldiersmagazine/legalforum/sep2001.pdf

 

[NavyFP]

Does anyone know where I can find a history of the HPSP Stipend (say, over the past 10 years or so)? Just curious as the the rate and frequency with which increases take place. (Future projections would be nice...but I am aware that it is not available and is subject to change each july per the DOD Budget).



P.S. Before anyone mentions it, this post does not mean that I am interested in HPSP solely for the money - but, if I was to do HPSP, the money is a nice biweekly addition to my bank account. I am just interested in how much more $ has been invested in HPSP (by way of stipend) students over the past 10 years or so.

The standard increase in stipend is the same as the cost of living adjustment for the military. Over the past year the stipend was increased substantially from $1349 to $1605 on 1 Oct and will again increase to $1907 on 1 Jul. It is authorized to go up to $30K per year, but there has never been funding to do that. I would suspect that next year it will only go up by the cost of living adjustment of about 3%.

 

[RDC12304]

The standard increase in stipend is the same as the cost of living adjustment for the military. Over the past year the stipend was increased substantially from $1349 to $1605 on 1 Oct and will again increase to $1907 on 1 Jul. It is authorized to go up to $30K per year, but there has never been funding to do that. I would suspect that next year it will only go up by the cost of living adjustment of about 3%.

Thank you.

 

[elderjack21]

P.S. Before anyone mentions it, this post does not mean that I am interested in HPSP solely for the money - but, if I was to do HPSP, the money is a nice biweekly addition to my bank account. I am just interested in how much more $ has been invested in HPSP (by way of stipend) students over the past 10 years or so.

I love the caveat! You were just expecting to get flamed on here for asking a question about pay increases that everyone in the military enjoys each year.


Best of luck!

 

[icarus8]

The standard increase in stipend is the same as the cost of living adjustment for the military. Over the past year the stipend was increased substantially from $1349 to $1605 on 1 Oct and will again increase to $1907 on 1 Jul. It is authorized to go up to $30K per year, but there has never been funding to do that. I would suspect that next year it will only go up by the cost of living adjustment of about 3%.

Thanks for the info.