Army Reserve Stipend Program and Financial Aid?

[Dr.HessD.O.]

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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!

 

[Static Line]

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!

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.

 

[Dr JPH]

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.

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

 

[Static Line]

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

agreed

 

[Dr.HessD.O.]

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

 

[Nate]

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