Air Force Air force Hsps 3 years scholarship worth it

[chopchop123]

Hello world,

I am a first year dental student at a state school, so I got the air force 3 years hsps scholarship, but I wonder if it is worth it. My total debt would be around 260k + interest for 4 years of dental school.

If I take the scholarship, it will be a 4 years commitment (3 years paid back + 1 year AEGD). I am 24 right now, so by the time I'm done with my pay back I will be 31. How hard is the transition from AF dentistry to civilian dentistry? How long will it take me to open my private practice?

I am a little bit worry about the IRR of 5 years after my paid back period; I understand that it is extremely rare, however with the middle east crisis as of right now, nobody can't really say what will happen in the next few years (a WW3 for example!?)

Can you guys please give me some input regarding this? Is it worth it for my 195k - 3 years tuition that AF sponsor for me? Let say if I can pay back that debt in 4 years in civilian practice?

Thank you

Sincerely

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[vellnueve]

Dude, if we get WW3 they'll probably activate Selective Service and you'll probably get drafted anyway. That scenario is more likely than getting called back off IRR.

 

[cacazor]

If I take the scholarship, it will be a 4 years commitment (3 years paid back + 1 year AEGD).

You don't HAVE to do an AEGD. You have to apply, but no one can force you to do one if you want to get out ASAP.

How long will it take me to open my private practice?
That's up to you. If you feel ready go ahead and apply for a practice loan.

I am a little bit worry about the IRR of 5 years after my paid back period; I understand that it is extremely rare, however with the middle east crisis as of right now, nobody can't really say what will happen in the next few years (a WW3 for example!?)
If you are that concerned, don't do it. Like you said, no one can say what will really happen. That includes people on this forum.
If you ABSOLUTELY don't want to be near a war zone...let's just say joining the military significantly increases your chances.


Is it worth it for my 195k - 3 years tuition that AF sponsor for me?
Paid tuiton + stipend for three years. Then O3 salary + BAH + BAS + specialty pay for every year you're in

Let say if I can pay back that debt in 4 years in civilian practice?
I don't know. Can you?


If you want to pay back 260k debt, then start calculating what you need to earn in a civilian practice. Then compare the cash you would have accumulated at the end of 4 years out of school.
Time to bust out your calculator bud

How come you haven't commissioned yet. Wasn't the AF boards 4 months ago?

 

[LFA20]

Hello world,

I am a first year dental student at a state school, so I got the air force 3 years hsps scholarship, but I wonder if it is worth it. My total debt would be around 260k + interest for 4 years of dental school.

If I take the scholarship, it will be a 4 years commitment (3 years paid back + 1 year AEGD). I am 24 right now, so by the time I'm done with my pay back I will be 31. How hard is the transition from AF dentistry to civilian dentistry? How long will it take me to open my private practice?

I am a little bit worry about the IRR of 5 years after my paid back period; I understand that it is extremely rare, however with the middle east crisis as of right now, nobody can't really say what will happen in the next few years (a WW3 for example!?)

Can you guys please give me some input regarding this? Is it worth it for my 195k - 3 years tuition that AF sponsor for me? Let say if I can pay back that debt in 4 years in civilian practice?

Thank you

Sincerely

Paying back 195k in 4 years? Lol It's possible if you completely eliminate yourself from this world..

In all seriousness it will take you at least 10 years to pay back..

 

[customx]

Paying back 195k in 4 years? Lol It's possible if you completely eliminate yourself from this world..

In all seriousness it will take you at least 10 years to pay back..

I would say that you could pay it off somewhere between 4 and 10 years. You should be able to land a job paying about $120-140k/year straight after graduation if you decide not to join the AF. You should be able to put about $20-30k/year towards those loans, and as you gain more experience and hopefully earn more, you can pay those loans down faster.

On a side note, if you join the AF, complete an AEGD and complete your service at 31, you will be set. You can continue in the military, you can join a practice as an associate, or you could try to buy or start your own practice. You should be nearly debt free at that point and will have 4 years of experience.

Head on over to Dental Town and browse the Finance forum. There is a thread where DENTISTS, not students and not-predents discuss the amount of loans they had upon graduation and how soon they were able to pay them off. That should give you a better idea on whether or not the scholarship will be worth it to you. Best of luck either way

 

[vellnueve]

I can't count the number of dentists I know, including classmates, who said that they wish they could go back and do an HPSP.

 

[chopchop123]

yeah, I have a classmate who got HSCP from navy, and he said he regrets doing it already...

 

[chopchop123]

I can't count the number of dentists I know, including classmates, who said that they wish they could go back and do an HPSP.

Would you go back and do it all over again?

 

[cacazor]

yeah, I have a classmate who got HSCP from navy, and he said he regrets doing it already...

How can he regret it already when he is still a student and hasnt served a single day...

 

[vellnueve]

Would you go back and do it all over again?

I just signed paperwork that will commit me to 8 more years

 

[chopchop123]

How can he regret it already when he is still a student and hasnt served a single day...

He saw an ad looking for dentists with starting salary of 180k in a corp lol

 

[aqz]

I just signed paperwork that will commit me to 8 more years

To be fair, he's doing an OMS residency that will require him to do 4 years on top of the 4 year residency.

 

[vellnueve]

To be fair, he's doing an OMS residency that will require him to do 4 years on top of the 4 year residency.

Yep - but with that taking me out to over 13 years I plan to do at least 20.

TL/DR - I'd do it again in a heartbeat.

 

[chompsss]

How can he regret it already when he is still a student and hasnt served a single day...

Yeah, uh... how can he regret it already when he hasn't served a day yet? Is he out of shape and can't pass PFT? Is he put out by the relatively small amount of paperwork he must do in return for the $250k check the Navy is writing for him to attend dental school?

Sounds like he's one of the "the grass is always greener on the other side" folks.

 

[gatorfan99]

He saw an ad looking for dentists with starting salary of 180k in a corp lol

Corporate jobs are great! They looove new grads

Seriously, he is seriously misinformed, unless he likes working on a sweat shop (and getting paid way less than what the ad says, I'm sure)

 

[Hedgy]

Hello world,

I am a first year dental student at a state school, so I got the air force 3 years hsps scholarship, but I wonder if it is worth it. My total debt would be around 260k + interest for 4 years of dental school.

If I take the scholarship, it will be a 4 years commitment (3 years paid back + 1 year AEGD). I am 24 right now, so by the time I'm done with my pay back I will be 31. How hard is the transition from AF dentistry to civilian dentistry? How long will it take me to open my private practice?

I am a little bit worry about the IRR of 5 years after my paid back period; I understand that it is extremely rare, however with the middle east crisis as of right now, nobody can't really say what will happen in the next few years (a WW3 for example!?)

Can you guys please give me some input regarding this? Is it worth it for my 195k - 3 years tuition that AF sponsor for me? Let say if I can pay back that debt in 4 years in civilian practice?

Thank you

Sincerely

You are exactly the same age I was when I started and in a similar situation with a 3 year HPSP. Assuming you do an AEGD and I would recommend it, it's not that big of a commitment. Not to mention AF deployments are not generally in combat affected areas and seem to be 4-6 mos, which is a bit better than the other services.

Even if WW3 happened and your were IRR, it is extremely doubtful that you would be called up.

Yes you could pay back that debt in civilian practice, IF you live like a pauper/student for those years.

 

[Roto Picante]

He saw an ad looking for dentists with starting salary of 180k in a corp lol

Yeah at the price of his ethics and soul.