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Hey, we just got our GI bill lecture at ODS. I'm not sure how much I can rely on the information they gave me, but if they're right I learned a few interesting things.
1) Unlike the Montgomery bill, apparently the new GI bill apparently does NOT count payback time from the HPSP scholarship towards the GI bill (the same way the Montgomery bill doesn't count payback time from ROTC), so if you do an Internship, 4 years, and then get out, you don't have the 9-11 GI bill. No one seems to know what happens if you do a 4 years residency, then do payback, and then get out.
2) The Montgomery bill is not going away, so you'll get a choice about which one to use. It looks like the Montgomery bill still does count HPSP payback towards your GI bill time.
3) To transfer the benifits of the 9-11 bill to your kids, you need to serve for 10 years (not counting your payback time) and then re-up for 4 years after that. So basically you can't use it as a college fund unless you're planning to stay in for 20 full years.
The take home lesson here seemed to be for all young docs to continue to pay into, and elect to use, the Montomery GI bill rather than the 9-11 GI bill, which is a WAY worse deal for our very specific community.
Just thought I'd share. Anyone who has more/better information please reply.
1) Unlike the Montgomery bill, apparently the new GI bill apparently does NOT count payback time from the HPSP scholarship towards the GI bill (the same way the Montgomery bill doesn't count payback time from ROTC), so if you do an Internship, 4 years, and then get out, you don't have the 9-11 GI bill. No one seems to know what happens if you do a 4 years residency, then do payback, and then get out.
2) The Montgomery bill is not going away, so you'll get a choice about which one to use. It looks like the Montgomery bill still does count HPSP payback towards your GI bill time.
3) To transfer the benifits of the 9-11 bill to your kids, you need to serve for 10 years (not counting your payback time) and then re-up for 4 years after that. So basically you can't use it as a college fund unless you're planning to stay in for 20 full years.
The take home lesson here seemed to be for all young docs to continue to pay into, and elect to use, the Montomery GI bill rather than the 9-11 GI bill, which is a WAY worse deal for our very specific community.
Just thought I'd share. Anyone who has more/better information please reply.
