Current HPSP Student Stipend & Tax Question.

[DredPiratRobrts]

For someone who is currently getting the HPSP stipend...

How much is your gross/net pay per payment? I know it's currently $1607 a month, split and paid on the 1st and 15th.

I'll be getting paid when it goes up to $1907 in July. I'm just trying to get a sense of how much $ actually comes in and how much goes back to Uncle Sam.

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[73BARMYPgsp]

For someone who is currently getting the HPSP stipend...

How much is your gross/net pay per payment? I know it's currently $1607 a month, split and paid on the 1st and 15th.

I'll be getting paid when it goes up to $1907 in July. I'm just trying to get a sense of how much $ actually comes in and how much goes back to Uncle Sam.

745.97 twice a month. California income tax taken out.

 

[elderjack21]

745.97 twice a month. California income tax taken out.

Do they take medicare/medicaid or social security taxes out of it as well?

 

[73BARMYPgsp]

Do they take medicare/medicaid or social security taxes out of it as well?

Negative on all the FICA stuff. I just looked at mypay to confirm.

 

[elderjack21]

Negative on all the FICA stuff. I just looked at mypay to confirm.

That is great since you can't get that back...unless it is still around 40 years from now...

But the state and federal taxes..you should be able to get some of it back if you aren't pulling in too much money from other sources.

Thanks for the information

 

[Dr. Wexler]

Negative on all the FICA stuff. I just looked at mypay to confirm.

Does anyone know if this is the same across the board for all HPSP, and if so, what the exemption is? I don't think the student-employee exemption applies because that is for students who are paid by the school.

 

[elderjack21]

Does anyone know if this is the same across the board for all HPSP, and if so, what the exemption is? I don't think the student-employee exemption applies because that is for students who are paid by the school.

Not sure about that. But, I did ROTC and never paid FICA or state/federal taxes on it, granted the yearly amount was much less (4k in stipend)