HPSP and undergraduate loans

[rob14599]

Does the HPSP program pay for any loans you incured as an undergraduate? If I enter medical school with 15K in loans from my undergrad days, does HPSP pay that off or am I stuck with it?

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[USAFdoc]

i believe you are stuck, but can get deferrments usually.

 

[USAFdoc]

i believe you are stuck, but can get deferrments usually.

 

[island doc]

Does the HPSP program pay for any loans you incured as an undergraduate? If I enter medical school with 15K in loans from my undergrad days, does HPSP pay that off or am I stuck with it?

No it does not. The purpose of HPSP is to pay for medical education, not undergrad. That is what the military academies, and ROTC scholarships are for.

Now is a good time for me to say to you: If you are considering USAF HPSP-don't.

 

[UncleRico]

I would easily take on $250K in loans if I were released from my 7 year USUHS commitment. I would actually come out several hundred thousand dollars ahead financially. Plus, I would be freed from a broken GME and medical system that UNDERUTILIZES its physicians and therefore wastes the government dollars spent to train them.

Take out loans. There are many ways to pay them off. Many private practice groups will often pay all or part of them as part of your signing bonus. Joining the military is a poor financial and professional decision for most people. The possible exception may be thoseprior service folks who will be near retirement after doing their payback; these guys should have their own forum because their situation is so different from the typical non-prior service person thinking about signing up.

 

[MoosePilot]

I would easily take on $250K in loans if I were released from my 7 year USUHS commitment. I would actually come out several hundred thousand dollars ahead financially. Plus, I would be freed from a broken GME and medical system that UNDERUTILIZES its physicians and therefore wastes the government dollars spent to train them.

Take out loans. There are many ways to pay them off. Many private practice groups will often pay all or part of them as part of your signing bonus. Joining the military is a poor financial and professional decision for most people. The possible exception may be thoseprior service folks who will be near retirement after doing their payback; these guys should have their own forum because their situation is so different from the typical non-prior service person thinking about signing up.

Our own forum?

Heh, it would be the love child of the non-trad and the mil med forum.

It's a big attraction, when I look at my payback and realize that with a three year residency plus the 7 year USUHS payback, I'd be at 19 years... and if I made it to 20, it would convert to 24. That doesn't suck. Hope I get in.

Weird, to have people on both ends of the spectrum. You dying to get out of your committment and me hoping to get accepted to USUHS. I can understand where you're coming from, because while there are probably thousands of High School and College kids dying to have my job, I'm eager to get out of this career field.

 

[island doc]

I would easily take on $250K in loans if I were released from my 7 year USUHS commitment. I would actually come out several hundred thousand dollars ahead financially. Plus, I would be freed from a broken GME and medical system that UNDERUTILIZES its physicians and therefore wastes the government dollars spent to train them.

Take out loans. There are many ways to pay them off. Many private practice groups will often pay all or part of them as part of your signing bonus. Joining the military is a poor financial and professional decision for most people. The possible exception may be thoseprior service folks who will be near retirement after doing their payback; these guys should have their own forum because their situation is so different from the typical non-prior service person thinking about signing up.

Back when I was an active duty line officer, I applied to USUHS hoping to be accepted. I was rejected and that turned out to be a blessing in disguise.