Hi all, I am an graduating undergrad and incoming M1 enrolling at a expensive low-mid tier private medical school next fall (2021) thinking of doing the army or navy HPSP. I went through a BS/MD program in college and decided not to take the MCAT and apply out this past cycle, so I do not have merit scholarships/state school options and am bound to my 90k/yr private school. As my family is strictly middle class (100k/yr), I doubt I'll be receiving any need based grants and be paying med school through all federal loans.
Luckly, my family paid for almost all my undergrad education (currently 15k federal loans which they've agreed to pay off), but now have to save up college money for my younger siblings so I won't be getting a penny for my MD. Thinking about how I will be taking out 360k at ~6.8% interest rate, which will be 450k by match day and easily 500k+ after a 3-5 year residency worries me intensely and I do not know how I'll tackle all the debt. Still, I've been looking at the HPSP scholarship as a possible route, as a current med student at my school is doing it and has recomended it. After doing some research, I've come up with the following pros and cons.
Pros:
- Full tuition + stipend + sign on bonus (Huge if I can save 500k+ by serving for 4 years after residency)
- Interested in primary care, but may specialize.
- Ability to travel.
- Discipline in the army.
- Building physical fitness and endurance.
- No SO currently and am willing to relocate (only 22 so don't know about the future).
Cons:
- May specialize (interested in exploring Anesthsiology, EM, or even Rads). Heard military can dictate match.
- Poorly physically/don't work out routinely (did cross country in HS but can barely finish a 5k lol).
- Non U.S. citizen (but permanent resident living in the U.S. for 10+ years eligible to take citizenship test any time).
- Open to serving but would join more for the scholarship than true interest in becoming a military doc.
- Deployment and combat (Don't want to risk my life unless the country is truly at stake - major conflict like WWII).
- Family and the future (Again, no SO but want to start a family and don't know about the future).
Should I apply for this scholarship and are there any recruiters out there who I can talk to?
Luckly, my family paid for almost all my undergrad education (currently 15k federal loans which they've agreed to pay off), but now have to save up college money for my younger siblings so I won't be getting a penny for my MD. Thinking about how I will be taking out 360k at ~6.8% interest rate, which will be 450k by match day and easily 500k+ after a 3-5 year residency worries me intensely and I do not know how I'll tackle all the debt. Still, I've been looking at the HPSP scholarship as a possible route, as a current med student at my school is doing it and has recomended it. After doing some research, I've come up with the following pros and cons.
Pros:
- Full tuition + stipend + sign on bonus (Huge if I can save 500k+ by serving for 4 years after residency)
- Interested in primary care, but may specialize.
- Ability to travel.
- Discipline in the army.
- Building physical fitness and endurance.
- No SO currently and am willing to relocate (only 22 so don't know about the future).
Cons:
- May specialize (interested in exploring Anesthsiology, EM, or even Rads). Heard military can dictate match.
- Poorly physically/don't work out routinely (did cross country in HS but can barely finish a 5k lol).
- Non U.S. citizen (but permanent resident living in the U.S. for 10+ years eligible to take citizenship test any time).
- Open to serving but would join more for the scholarship than true interest in becoming a military doc.
- Deployment and combat (Don't want to risk my life unless the country is truly at stake - major conflict like WWII).
- Family and the future (Again, no SO but want to start a family and don't know about the future).
Should I apply for this scholarship and are there any recruiters out there who I can talk to?