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Army Reserve Stipend Program and Financial Aid?

Discussion in 'Pre-Medical - DO' started by Dr.HessD.O., May 1, 2007.

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  1. Dr.HessD.O.

    Dr.HessD.O. 2+ Year Member

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    Oct 9, 2006
    All,
    If any of you future Docs are in the reserves receiving the monthly stipend ~ $1325, does this factor in to your schools method of determining your financial need?
    I am asking becuase i was hoping to buy a house and use part of the 1325 a month as a buffer to pay a portion of the mortgage.
    Any input would be greatly appreciated!
     
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  3. Static Line

    Static Line America's Guard of Honor 5+ Year Member

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    Dec 5, 2004

    Yes it does. Each school sets a yearly budget for students. The HPSP stipend reduces the total amount you can borrow. Means you have to borrow less but you can't borrow more than what your school budgets for you, including the HPSP, generally speaking. Essentialy there is no difference in one who gets the HPSP stipend, and one who borrows the full amount to fund their education and cost of living, except who you pay back.
     
  4. Dr JPH

    Dr JPH Banned Banned 10+ Year Member

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    I would say HOW you pay it back is a bit different as well.
     
  5. Static Line

    Static Line America's Guard of Honor 5+ Year Member

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    agreed
     
  6. Dr.HessD.O.

    Dr.HessD.O. 2+ Year Member

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    Oct 9, 2006
    Thanks that is kinda what I had thought, similar to the way my Gi Bil is clculated in.
    Thanks again
     
  7. Nate

    Nate Missing Moderator Emeritus 10+ Year Member

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    Nov 27, 2003
    NJ > Ohio
    Please do not cross post same thread in multiple forums, please feel free to contribute to the open on which will be moved to military medicine forum
     

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