20K bonus for 3-year

[dnt0711]

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It looks like I'll be signing for a 3-year HPSP when Oct 1 rolls around. I know this has been discussed multiple times, but I'm looking for some more input about taking the 20K bonus or not.

I'm currently leaning towards not taking it because the way I understand it, after 3 years instead of 4, I can:

1) Leave the military for private practice

or

2) Re-sign with the Army and get a multi-year retention bonus.

My question is: How much is this multi-year retention bonus? I saw somewhere that it was 50K for a 4 year commitment, but is that 50k/year, or 50k total over 4 years? If the latter is the case, then wouldn't it be more beneficial to just take the 20K now?

And also, if I were to do a 1 year AEGD, would this affect the situation at all? Like, if I took the bonus, then did an AEGD, would I still have to do 4 more years. Or would the 1 year of AEGD + 3 years of AD cover my 4 year commitment?

I just want some expert advice on the situation before I go and turn down a big check for $20! Thanks!

 

[Bis-GMA111]

It looks like I'll be signing for a 3-year HPSP when Oct 1 rolls around. I know this has been discussed multiple times, but I'm looking for some more input about taking the 20K bonus or not.

I'm currently leaning towards not taking it because the way I understand it, after 3 years instead of 4, I can:

1) Leave the military for private practice

or

2) Re-sign with the Army and get a multi-year retention bonus.

My question is: How much is this multi-year retention bonus? I saw somewhere that it was 50K for a 4 year commitment, but is that 50k/year, or 50k total over 4 years? If the latter is the case, then wouldn't it be more beneficial to just take the 20K now?

And also, if I were to do a 1 year AEGD, would this affect the situation at all? Like, if I took the bonus, then did an AEGD, would I still have to do 4 more years. Or would the 1 year of AEGD + 3 years of AD cover my 4 year commitment?

I just want some expert advice on the situation before I go and turn down a big check for $20! Thanks!

i asked my recruiter the same thing last year. from what i was told, taking the bonus for a 3 year would =4 year payback, and the 1 year AEGD is a neutral year regardless...so therefore you would serve for 5 years (the situation would be similar to taking a 4 year hpsp and doing the aegd).

i have a new recruiter this year so i can verify it with this person and let you know.

 

[Hope45]

It looks like I'll be signing for a 3-year HPSP when Oct 1 rolls around. I know this has been discussed multiple times, but I'm looking for some more input about taking the 20K bonus or not.

I'm currently leaning towards not taking it because the way I understand it, after 3 years instead of 4, I can:

1) Leave the military for private practice

or

2) Re-sign with the Army and get a multi-year retention bonus.

My question is: How much is this multi-year retention bonus? I saw somewhere that it was 50K for a 4 year commitment, but is that 50k/year, or 50k total over 4 years? If the latter is the case, then wouldn't it be more beneficial to just take the 20K now?

And also, if I were to do a 1 year AEGD, would this affect the situation at all? Like, if I took the bonus, then did an AEGD, would I still have to do 4 more years. Or would the 1 year of AEGD + 3 years of AD cover my 4 year commitment?

I just want some expert advice on the situation before I go and turn down a big check for $20! Thanks!

Kinda off topic here, but how do you know that you will be receiving the 3 yr HPSP? Were you able to send in your package already? I tried contacting my recruiter because everything is done and ready to go, but she is being very short with me to this point.

Any help would be appreciative!

Thanks

 

[USArmyHPSP]

It looks like I'll be signing for a 3-year HPSP when Oct 1 rolls around. I know this has been discussed multiple times, but I'm looking for some more input about taking the 20K bonus or not.

I'm currently leaning towards not taking it because the way I understand it, after 3 years instead of 4, I can:

1) Leave the military for private practice

or

2) Re-sign with the Army and get a multi-year retention bonus.

My question is: How much is this multi-year retention bonus? I saw somewhere that it was 50K for a 4 year commitment, but is that 50k/year, or 50k total over 4 years? If the latter is the case, then wouldn't it be more beneficial to just take the 20K now?

And also, if I were to do a 1 year AEGD, would this affect the situation at all? Like, if I took the bonus, then did an AEGD, would I still have to do 4 more years. Or would the 1 year of AEGD + 3 years of AD cover my 4 year commitment?

I just want some expert advice on the situation before I go and turn down a big check for $20! Thanks!

If you accept the bonus, you will be signing a secondary contract that specifically states that in return for 20K you will owe four (4) years of active duty obligation.

 

[dnt0711]

I was told that all the people on the OML are being automatically accepted. I've already been given all my commissioning docs to sign, including the bonus form.

Does anyone have an answer to: How much is this multi-year retention bonus? I saw somewhere that it was 50K for a 4 year commitment, but is that 50k/year, or 50k total over 4 years? If the latter is the case, then wouldn't it be more beneficial to just take the 20K now?

 

[dnt0711]

That being said, there is also the possibility that my recruiter is full of bs and is just stringing me along once again. It would probably be about the 10th time he told me somehting was going to happen but then it didn't.

 

[finchy86]

I was interviewing at a dental school last month and the lunch was provided by an Army recruiter. He said that the $20,000 sign on bonus will no longer be available...can anyone confirm this? I have yet to confirm it, and in fact it is still listed on the HPSP Army webpage. If anyone has any knowledge of this please let me know.

 

[Bis-GMA111]

.

 

[Bis-GMA111]

finchy, there is a 20k sign on bonus. i finalized my army hpsp packet on friday and signed the document choosing to accept it if i take the hpsp

 

[dnt0711]

I was interviewing at a dental school last month and the lunch was provided by an Army recruiter. He said that the $20,000 sign on bonus will no longer be available...can anyone confirm this? I have yet to confirm it, and in fact it is still listed on the HPSP Army webpage. If anyone has any knowledge of this please let me know.

Rule #1: never listen to anything a recruiter says. You'd be shocked if you knew how little they actually know about the scholarships or how things work.

 

[dnt0711]

finchy, there is a 20k sign on bonus. i finalized my army hpsp packet on friday and signed the document choosing to accept it if i take the hpsp

How did you decide to take the 20K sign on bonus? I'm still struggling to make the decision.

 

[Bis-GMA111]

if you're doing the 4 year, it means no extra obligation. it's just a bonus (taxable, btw)

however, if you take it with the 3 year commitment and then take the bonus, it's another year of obligation

 

[baums49]

Has anyone who was on the 4-year scholarship OML heard anything regarding the new fiscal year and getting a 3-year scholarship yet? I was told by my recruiter that the board date was pushed back to October 17, and was just wondering if anyone else can corroborate this.

 

[dnt0711]

I was told pre-Oct 1 that I was getting one on Oct 1st automatically. Then Oct 1 came around and I was told I wouldn't know until the end of October. I lost track, but I think that's about the 10th time my recruiter told me with certainty that I'd be getting it by a certain date, and then I didn't. Worst recruiter ever, but hey, he'll still get his quota met whenver I do get it!

 

[baums49]

I hear you...this seems to be the name of the game: we get told a date, then nothing happens on that date, then we struggle to get in contact with the recruiter, and we are told a new date. Hopefully we'll hear something soon. I was told by two recruiters not to worry and that I'd definitely be getting a 3-year off the OML, but I've learned to take everything the recruiters say with a grain of salt.

 

[Tiankum]

I hear you...this seems to be the name of the game: we get told a date, then nothing happens on that date, then we struggle to get in contact with the recruiter, and we are told a new date. Hopefully we'll hear something soon. I was told by two recruiters not to worry and that I'd definitely be getting a 3-year off the OML, but I've learned to take everything the recruiters say with a grain of salt.

I've found that often times recruiters know just as much as you do and they tell you certain things to get you not to worry and call them all the time. Definitely don't beleive everything they tell you. I don't think they try to mislead on purpose, they're just giving you an estimate.

 

[baums49]

mbkin7, may I ask you how and when you were notified that you were being offered the 3-year? Thanks!

 

[dnt0711]

it looks like the board made some decisions on Oct 12. I was just notified that I was selected for 3-year off the OML.

 

[baums49]

Congratulations, dnt! I hope to hear that great news soon. Did your recruiter call you? I just emailed mine to see if there is any news.

 

[dnt0711]

I got a call from mine. I think they just got emailed the results today, and sometimes recruiters aren't very quick to check up on the results. But regardless, it seemed like this was actually legit and I really did get it.

 

[baums49]

Well that's got to be quite a relief, congratulations. I've got my fingers crossed.

 

[krmower]

It looks like I'll be signing for a 3-year HPSP when Oct 1 rolls around. I know this has been discussed multiple times, but I'm looking for some more input about taking the 20K bonus or not.

I'm currently leaning towards not taking it because the way I understand it, after 3 years instead of 4, I can:

1) Leave the military for private practice

or

2) Re-sign with the Army and get a multi-year retention bonus.

My question is: How much is this multi-year retention bonus? I saw somewhere that it was 50K for a 4 year commitment, but is that 50k/year, or 50k total over 4 years? If the latter is the case, then wouldn't it be more beneficial to just take the 20K now?

And also, if I were to do a 1 year AEGD, would this affect the situation at all? Like, if I took the bonus, then did an AEGD, would I still have to do 4 more years. Or would the 1 year of AEGD + 3 years of AD cover my 4 year commitment?

I just want some expert advice on the situation before I go and turn down a big check for $20! Thanks!

The $50k bonus is for those that have specialized. For the situation you described above you would qualify for the 'non-specialty' bonus which is $25k/yr for a 4 yr additional obligation.

If you do the 1 yr AEGD you will incur an additiona1 yr obligation. If you have done a 1 yr AEGD you can complete the ACP program. Once you have completed this, when it is time to get out, if you sign on for another 4 yrs you get $35k/yr for 4 yrs.