Military loan forgiveness

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anbuitachi

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Does anyone have any comments about this program? They came and talked to us about it but i would like some real experience from ppl if possible. From what i understand, we get 40k per year during residency, and for every 40k we get, we have to do 2 years post residency of service (about 40 days a year).

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Are you talking the national guard program? Or active duty? Can you name the actual program
 
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Are you talking the national guard program? Or active duty? Can you name the actual program
I'm not sure what the name is .. I think its the US army reserve medical corps (thats what it says on paper)

Moving to the military medicine forum.
Is this really military medicine?? I'm just wondering about it from anesthesiologist perspective being on reserve.. not training in military
 
Does anyone have any comments about this program? They came and talked to us about it but i would like some real experience from ppl if possible. From what i understand, we get 40k per year during residency, and for every 40k we get, we have to do 2 years post residency of service (about 40 days a year).
Do a google search on HPLRP (Health Professionals Loan Repayment Program) or do a search on SDN on the same term in the military medicine forum.

In the Army National Guard or Army Reserve, it is the same program. You get $40K of federal student loans for medical school reimbursed one year after signing up for the program. You can do this for six years max. You do not incur service obligations for this. When you sign the form for the program, one year later you are eligible for the reimbursement. If you resign at any point during the year, you do not get the reimbursement (nor do they pro-rate it).

This program is open only to board eligible folks. You can take it during residency only during your PGY-3 year and later ONLY if you are taking STRAP.

STRAP is a completely separate program. You get a stipend of about $2200/month during residency and you owe the Army Reserve/National Guard 2 years of drilling status post-residency for every year you take the stipend while in residency. When you are paying back your obligation for STRAP post-residency (say, for 8 years if you took STRAP for a four year residency), you can NOT take HPLRP.

Aside from the google search, I'd recommend reading the stickies on this forum. You would be in the Reserve Corps for these programs and are very much in the Army. It is much less commitment than serving full-time, but it is still a commitment that occupies a fair bit of time and dictates small parts of your life at all times (haircut, height/weight, fitness, drug-free, etc.). And when you deploy, you will be under the sames rules and policies as full-time Army.

HPLRP and STRAP are great incentives for folks who want to serve in the military. Neither is so compelling as to join just for the sake of them. I have been in the National Guard throughout residency and have been happy with my decision, but do not be under any illusions about the financial worth of it: you can make more money moonlighting during residency than you will receive from STRAP and in fewer hours. You can make more money moonlighting post-residency than you will receive from HPRLP and in fewer hours.
 
Do a google search on HPLRP (Health Professionals Loan Repayment Program) or do a search on SDN on the same term in the military medicine forum.

In the Army National Guard or Army Reserve, it is the same program. You get $40K of federal student loans for medical school reimbursed one year after signing up for the program. You can do this for six years max. You do not incur service obligations for this. When you sign the form for the program, one year later you are eligible for the reimbursement. If you resign at any point during the year, you do not get the reimbursement (nor do they pro-rate it).

This program is open only to board eligible folks. You can take it during residency only during your PGY-3 year and later ONLY if you are taking STRAP.

STRAP is a completely separate program. You get a stipend of about $2200/month during residency and you owe the Army Reserve/National Guard 2 years of drilling status post-residency for every year you take the stipend while in residency. When you are paying back your obligation for STRAP post-residency (say, for 8 years if you took STRAP for a four year residency), you can NOT take HPLRP.

Aside from the google search, I'd recommend reading the stickies on this forum. You would be in the Reserve Corps for these programs and are very much in the Army. It is much less commitment than serving full-time, but it is still a commitment that occupies a fair bit of time and dictates small parts of your life at all times (haircut, height/weight, fitness, drug-free, etc.). And when you deploy, you will be under the sames rules and policies as full-time Army.

HPLRP and STRAP are great incentives for folks who want to serve in the military. Neither is so compelling as to join just for the sake of them. I have been in the National Guard throughout residency and have been happy with my decision, but do not be under any illusions about the financial worth of it: you can make more money moonlighting during residency than you will receive from STRAP and in fewer hours. You can make more money moonlighting post-residency than you will receive from HPRLP and in fewer hours.

Did a google search, it seems like what they told us during the presentation is different from what actually happens. We were told for the Army Reserve program.. we get 40k per year and although it says towards educational loans.. we will be handed a check and we can do whatever we want with it. HOwever google says it must be used on Medical school loans..
 
We were told for the Army Reserve program.. we get 40k per year and although it says towards educational loans.. we will be handed a check and we can do whatever we want with it. HOwever google says it must be used on Medical school loans..
There is no check. There is a very tedious paperwork process where at the end of it, $40k is wiped from your federal medical student loans. No check, no private loans, and no loans for anything but medical school.

It's a great benefit for those looking to serve in the military.
 
There is no check. There is a very tedious paperwork process where at the end of it, $40k is wiped from your federal medical student loans. No check, no private loans, and no loans for anything but medical school.

It's a great benefit for those looking to serve in the military.

I see... that sucks...
 
Well, if you could ever get them to make payment it would probably be okay. So far I've had to submit "every loan I've ever had that's not paid off". And supporting MPNs, before they'll pay 40K this year. They want the info of every loan you have. Even if it's pre-med school. The amount of paper work to get one government agency to pay another government agency is mind boggling. You have to enter all of this info and upload an MPN to print a document to mail to the loan originator to then send the MPN/info directly to them. And if you don't have some of this info or you can't get it, it all gets stalled out. Even if they have already verified 100K of money they COULD pay off. Anyway, this has been my experience so far and it's ongoing and no payment has been initiated.
 
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