Am I correct to think that the part-time military incentive programs like MDSSP and STRAP aren't worth it financially?

[magician7772222]

I have been considering part-time military service after graduation for a while now and have basically made up my mind on this being something that I would like to pursue, so now I am trying to think of what the best way to go about this would be. Am I correct to think that all of the incentive programs avaliable for physicians in the reserve/national guard are not financially worthwhile and that I would be better off waiting until I complete residency before joining?

Just to clarify, I have already made up my mind about wanting to serve in the military. I am just trying to figure out what the smartest way to go about doing so would be.

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[militaryPHYS]

What is your definition of “financially worth it”?

If it is to come out with a higher net worth than if you hadn’t joined the answer is probably not. But that shouldn’t be the main reason for joining in the first place.

 

[magician7772222]

What is your definition of “financially worth it”?

If it is to come out with a higher net worth than if you hadn’t joined the answer is probably not. But that shouldn’t be the main reason for joining in the first place.

Financially better then just joining after residency. I already know that its not really worthwhile just for the money. I'm interested in joining because I want to serve in the military. I just am not sure if going through one of the incentive programs for students/residents is worse then just joining after residency.

 

[DeadCactus]

I think it's insane that the military can sign-up a 22 year old to spend 17 years (4 years of medical school, 3 years of residency, and 10 years of pay-back) in uniform. The program was reasonable when you could do 4 years of MDSSP and then opt to just payback 8 years with residency time counting (though that's still a 12 year obligation). The change to pay-back only starting after residency broke it in my opinion.

Anyway, yes, generally the benefit of increased control alone is worth taking a post-residency option rather than any of the current training programs. The big caveats:
- Money as a student and resident is worth more than money as an attending
- State specific Guard benefits can be significant
- If you end up spending a full career, retirement and pay credit for all that time in training can be a significant benefit
- You may get to do some fun things during your training that otherwise wouldn't be available to you

With the current programs, the optimal options for most people is trying to join as a medical student without any incentives. This isn't always an option. If that fails, the Guard is sometimes worth it if the state benefits are particularly strong for your situation (i.e. tuition waiver at your school).

 

[magician7772222]

I think it's insane that the military can sign-up a 22 year old to spend 17 years (4 years of medical school, 3 years of residency, and 10 years of pay-back) in uniform. The program was reasonable when you could do 4 years of MDSSP and then opt to just payback 8 years with residency time counting (though that's still a 12 year obligation). The change to pay-back only starting after residency broke it in my opinion.

Anyway, yes, generally the benefit of increased control alone is worth taking a post-residency option rather than any of the current training programs. The big caveats:
- Money as a student and resident is worth more than money as an attending
- State specific Guard benefits can be significant
- If you end up spending a full career, retirement and pay credit for all that time in training can be a significant benefit
- You may get to do some fun things during your training that otherwise wouldn't be available to you

With the current programs, the optimal options for most people is trying to join as a medical student without any incentives. This isn't always an option. If that fails, the Guard is sometimes worth it if the state benefits are particularly strong for your situation (i.e. tuition waiver at your school).

Could you elaborate on joining as a medical student without any incentives? Do you just mean joining as an enlisted while in med school or something else?

 

[DeadCactus]

It's just what it sounds like. Some components and units are/were intermittently willing to commission medical students in a medical student job code without requiring them to take an incentive.

Enlisting while a medical student is profoundly terrible idea.

 

[magician7772222]

It's just what it sounds like. Some components and units are/were intermittently willing to commission medical students in a medical student job code without requiring them to take an incentive.

Enlisting while a medical student is profoundly terrible idea.

I've never heard of being able to comission as a medical student without the incentives. Do you have any links or names of programs that I can look into?