HPSP and SLRP?

[73BARMYPgsp]

I was looking at the regulation and it appears I can do HPSP and Student Loan Repayment if:

1. I am fully qualified in the position held (For clinical psychology, that means about 1 year after the PhD is completed and licensing exam (EPPP) is passed.)

2. My HPSP was not 4 years. (I received a 2 year scholarship).

You do take an additional obligation which is fine since I am career.

So does that mean that after I take (and pass) the EPPP, I can apply for the loan repayment?

---

Members don't see this ad.

 

[colbgw02]

I believe it may be a moot point as they are instituting a LRP for AD folks, at least for physicians. You may want to check if that extends to psychologists.

For me, unless there are significant tax advantages, it doesn't make much sense because my specialty's pay is higher than the LRP. Actually, does anyone know if there is a difference between specialty pay and loan repayments vis-a-vis taxes?

 

[NavyFP]

I was looking at the regulation and it appears I can do HPSP and Student Loan Repayment if:

1. I am fully qualified in the position held (For clinical psychology, that means about 1 year after the PhD is completed and licensing exam (EPPP) is passed.)

2. My HPSP was not 4 years. (I received a 2 year scholarship).

You do take an additional obligation which is fine since I am career.

So does that mean that after I take (and pass) the EPPP, I can apply for the loan repayment?

You are correct. You would be eligible for the Health Professions Loan Repayment Program. If you are given an option, do not accept less than 2 years of repayment. The one year program has a 2 year payback as does the two year program. (same obligation, twice the money.)

 

[73BARMYPgsp]

NAVYFP-

The first 3 years of my 5 year PhD program is basically all loans--about $90,000.

I had the SLRP when I was enlisted and it was not a "how many years of school" thing, but rather a "maximum dollar amount thing." That is, the SLRP maxed out at 65,000 and my total was 68,000 (for my BS and first MA) So they paid all but about 3,000 of it. Is it different for AD health professions?

 

[NavyFP]

NAVYFP-

The first 3 years of my 5 year PhD program is basically all loans--about $90,000.

I had the SLRP when I was enlisted and it was not a "how many years of school" thing, but rather a "maximum dollar amount thing." That is, the SLRP maxed out at 65,000 and my total was 68,000 (for my BS and first MA) So they paid all but about 3,000 of it. Is it different for AD health professions?

Max per year is $38K this year. (it tends to go up.) They take about 25% of the top for taxes and give the rest to the loan companies. It never pays off the loan, but it will pay about 83-85K for 3 years and you would owe three years of obligation. Max is 4 years of payments.

 

[73BARMYPgsp]

NavyFP- You rock. Now I have to explain it to the recruiter, because of course, she has no idea about this program.