HPSP......let's hear what you think

[json896]

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json896, you said you get 2000 a month and a food and housing allowance. I am currently applying to Army and was under the impression that the 2000 is the food and housing allowance. Id love to be wrong about that lol

Yes sorry i confused you. Its about 2000/month stipend for 10 months or so which is your allowence., then when you do your 45 days of active duty, you get the housing and food allowance ontop of lieutenants pay, which is about 3500/month

sorry again for confusion

 

[xhamburgersamx]

Of course people do HPSP for the money. Some do it for the training but everyone does it for the experience.

Imagine going to an expensive private and incurring a 300k debt coming out and having to do a 1 year GPR. 3 years practicing outside and you still over at least 200k.

4 years right out of the military, and you'll be positive 200k+ in total earned income, that's a difference of 400,000+ real dollars (-200 to +200). Some people quantify "freedom" to be more than any numerical valve and that's perfectly fine.

If anyone is thinking about applying, do it now because when school starts rolling around, it'll be very difficult to get the scholarship when your classmates realize its a good deal and apply.

 

[xhamburgersamx]

dont worry about IRR because there will always be new dental students joining in through HPSP or direct assession!

 

[drsomeday1]

I am doing Army HPSP for class of 2014 and lphiewok has got his stuff right (I'm also USC). I've talked to a lot of Army and Air Force HPSP graduates and the one consistent thing I've heard is that if they were presented with the choice again, they would still do it. That was comforting for me. It's a great deal but it just might be more necessary for some than others depending on which school you're going to. You have to be OK with being deployed though, regardless of family etc. If you're not, don't join because there's a good chance it will happen. Lots of the people I talked said they actually really enjoyed their deployment, even while away from families. I guess a lot of it depends on your attitude going into it.

 

[yuppers]

Of course people do HPSP for the money. Some do it for the training but everyone does it for the experience.

Imagine going to an expensive private and incurring a 300k debt coming out and having to do a 1 year GPR. 3 years practicing outside and you still over at least 200k.

4 years right out of the military, and you'll be positive 200k+ in total earned income, that's a difference of 400,000+ real dollars (-200 to +200). Some people quantify "freedom" to be more than any numerical valve and that's perfectly fine.

If anyone is thinking about applying, do it now because when school starts rolling around, it'll be very difficult to get the scholarship when your classmates realize its a good deal and apply.

You are forgetting to include that the person who did not go into the military is 3-5 years ahead in terms of developing a private practice. Those 3-5 years can add up to a lot more money.
So once again do not do it for the money.

Sure being in the military will provide many life experiences that people in the private sector will not face. But one reason why I actually decided to stop pursuing the scholarship was a lack of experience in terms of dental experience and business experience. Military dentists may end up doing lots of exams and amalgam fillings which may hamper many of the skills you have learned in DS. Not to mention not getting experience on running a practice.

I am thinking about the financial situation like this:
Sure it will be hard during DS- cook my own cheap food, buy used books, bike/walk if possible, don't use excess utilities, etc. Then I will just have to hold off on any large purchases (house, car, etc) for several years after DS. But those are sacrifices I'm willing to make especially when it will work out in the end.

After being on the HPSP bandwagon for a while, two sentences stuck with me: "Nothing in life is free" and "If it sounds to good to be true, it probably is". At first the HPSP sounded great, but when I slowed down to think about it it really was not the best thing for me and my personal goals.

All this being said, the HPSP is still a viable and great option for many people as long it is for the right reasons.

 

[alec0884]

You are forgetting to include that the person who did not go into the military is 3-5 years ahead in terms of developing a private practice. Those 3-5 years can add up to a lot more money.
So once again do not do it for the money.

Sure being in the military will provide many life experiences that people in the private sector will not face. But one reason why I actually decided to stop pursuing the scholarship was a lack of experience in terms of dental experience and business experience. Military dentists may end up doing lots of exams and amalgam fillings which may hamper many of the skills you have learned in DS. Not to mention not getting experience on running a practice.

I am thinking about the financial situation like this:
Sure it will be hard during DS- cook my own cheap food, buy used books, bike/walk if possible, don't use excess utilities, etc. Then I will just have to hold off on any large purchases (house, car, etc) for several years after DS. But those are sacrifices I'm willing to make especially when it will work out in the end.

After being on the HPSP bandwagon for a while, two sentences stuck with me: "Nothing in life is free" and "If it sounds to good to be true, it probably is". At first the HPSP sounded great, but when I slowed down to think about it it really was not the best thing for me and my personal goals.

All this being said, the HPSP is still a viable and great option for many people as long it is for the right reasons.

I'll make a few comments

as for who will be ahead...that totally depends on what kinda of practice someone wants to have. you are also not going to open your own practice right out of dental school. so that business experience will be minimal as you will simply be working for someone.

the government can sometimes do crazy things....sounds to good to be true.....well i think the truth is that they are making an investment in you and those who leave after the minimum commitment were a loss (essentially they are hoping you decided to stay for a while)

And how far back to you think 4 years is going to put someone anyway...when your paycheck will be docked 30-40K every year with student loans for maybe 20 years

 

[yuppers]

I'll make a few comments
as for who will be ahead...that totally depends on what kinda of practice someone wants to have. you are also not going to open your own practice right out of dental school. so that business experience will be minimal as you will simply be working for someone.

If you work as an associate, I'm sure you will be involved in the business aspect as long as you want to be.

the government can sometimes do crazy things....sounds to good to be true.....well i think the truth is that they are making an investment in you and those who leave after the minimum commitment were a loss(essentially they are hoping you decided to stay for a while)

If you plan on staying in past the 4 years then that is a completely different story. Obviously at this point you enjoy the military lifestyle and you weren't just "doing it for the money".

And how far back to you think 4 years is going to put someone anyway...when your paycheck will be docked 30-40K every year with student loans for maybe 20 years

600K to 800K is a stretch.
Don't look at the first 4 years of a practice, but look at the 4 years towards the end when a practice is in full swing. Putting numbers on it is fairly tough unless you know several dentists that will discuss their personal finances.

 

[alec0884]

If you work as an associate, I'm sure you will be involved in the business aspect as long as you want to be.

You will still have a learning curve though when you start out yourself.

If you plan on staying in past the 4 years then that is a completely different story. Obviously at this point you enjoy the military lifestyle and you weren't just "doing it for the money".

I was trying to make mention that if you get out after 4 years it is a good deal and you will have taken advantage of an opportunity. I know many dentist who did this and then the reserves and now have a pension and military benefits. They also have extremely lucrative practices and many toys

600K to 800K is a stretch.
Don't look at the first 4 years of a practice, but look at the 4 years towards the end when a practice is in full swing. Putting numbers on it is fairly tough unless you know several dentists that will discuss their personal finances.

well if you are between 300K and 400K in debt I'd say it is pretty close.....especially for the majority who will do a 30 year and try to put a little more on the top to pay it back quicker. Close to 3K a month is a very possible scenario at the more expensive schools.....which are a lot of schools today


Also a practice does not grow indefinitely....unless you want to turn into Smilecare or something....but it will taper off and both you and the Navy dentist will likely be in the same place 15-20 years out

 

[yuppers]

well if you are between 300K and 400K in debt I'd say it is pretty close.....especially for the majority who will do a 30 year and try to put a little more on the top to pay it back quicker. Close to 3K a month is a very possible scenario at the more expensive schools.....which are a lot of schools today

If you pay 3k per month it shouldn't take you much more then 10 years to pay of the 300k + interest.

Also a practice does not grow indefinitely....unless you want to turn into Smilecare or something....but it will taper off and both you and the Navy dentist will likely be in the same place 15-20 years out

Well then theoretically, I will be at the maximum practice income for 4 years prior to the navy dentist.

I think that either way the money will work out. While the HPSP discussions always turns into a money counting frenzy, there are many others reasons why I specifically and others decide not to do it in the end.

 

[alec0884]

If you pay 3k per month it shouldn't take you much more then 10 years to pay of the 300k + interest.

correct me if I am wrong but you can expect to pay 2 dollars back for every dollar borrowed so maybe 15-16 years....and a lot of students today will have over 300K in debt with undergrad, masters (if done) and then dental school......I know the first two aren't paid for by the scholarship

Well then theoretically, I will be at the maximum practice income for 4 years prior to the navy dentist.

that is true

I think that either way the money will work out. While the HPSP discussions always turns into a money counting frenzy, there are many others reasons why I specifically and others decide not to do it in the end.

-and that I totally understand.....there are reasons I applied other than the money

 

[korndoctor]

besides money, could you guys elaborate good reasons to do the military route and good reasons not to so that rest of us could make an informed decision. Basically i want to travel to new places and explore exotic places I would probably never get chance to due to private dental office or if i take vacation from private practice, my wife would probably never approve of us going...shes more into going to bahamas or paradise and disneyworld...u get the picture.

 

[yuppers]

correct me if I am wrong but you can expect to pay 2 dollars back for every dollar borrowed so maybe 15-16 years....and a lot of students today will have over 300K in debt with undergrad, masters (if done) and then dental school......I know the first two aren't paid for by the scholarship

Someone posted a while ago in another thread; it a good way to figure out a financial situation in terms of student loans:http://forums.studentdoctor.net/attachment.php?attachmentid=14088&stc=1&d=1263579562

 

[alec0884]

besides money, could you guys elaborate good reasons to do the military route and good reasons not to so that rest of us could make an informed decision. Basically i want to travel to new places and explore exotic places I would probably never get chance to due to private dental office or if i take vacation from private practice, my wife would probably never approve of us going...shes more into going to bahamas or paradise and disneyworld...u get the picture.

Well travel is a possible upside (for some a negative)....remember it won't be your choice and you may not like where they send you. On the other hand my father was stationed in rossevelt rhodes in PR for several years (he loved it)

Unique experiences is another for some people....In 15 years I'll be older and have a practice, a house and dog....and so for me doing 4 years on a ship or a base somewhere in the world and seeing military operations is just something that fascinates me. you might fly co-pilot in a jet, ride on a sub, or do some other things that few people get to do. The military does tell you what to do....but you would be surprised how much they will let you do if you do a little personal training like getting back-seat qualified.

For your first 1-2 years you will work on a large base here in the states and have access to so many experience, well-trained dentist that you will have the opportunity to learn a lot more. I know oral surgeons that regard the mentoring they received while serving as the best...making them efficient and confident in all procedures.

There is always the "serve my country" aspect. Though this does not have to be done through the military.....I think that if private dentist do a lot of pro-bono work or dedicate some of their time to low-income clinics it is service.

I almost forgot...specializing while in the military is a great opportunity if i am not mistaken.....you are paid and the time does not add to your commitment.

Oh yeah let me add......you know all that equipment that you are required to purchase while in dental school....(computer, instruments, loops, insurance, whatnot) well if it is required the navy pays for it and it is yours afterwards.

 

[alec0884]

Someone posted a while ago in another thread; it a good way to figure out a financial situation in terms of student loans:

yeah i had seen that....pretty good but it is also if you want to rush to pay it off and live more moderately for the first few years.....i know a lot of people who will do it over 30 years (pay more in interest) but live a little nicer and let inflation make their payments seem like less as the years go by

 

[yuppers]

yeah i had seen that....pretty good but it is also if you want to rush to pay it off and live more moderately for the first few years.....i know a lot of people who will do it over 30 years (pay more in interest) but live a little nicer and let inflation make their payments seem like less as the years go by

Interesting point, but it depends on the rate of inflation compared to the loan interest rate. Right?

 

[alec0884]

Interesting point, but it depends on the rate of inflation compared to the loan interest rate. Right?

definitely....but by the last 10 years.....especially if we keep printing money like crazy it won't seem like too much.

 

[xhamburgersamx]

I'm starting to get annoyed when people say don't do HPSP for financial reasons. It's obviously that most are doing it for that sole purpose.

NO matter what anyone says, after 4 years of working in the military, you will be debt free and have a net worth that is very very "positive" vs. very very negative of people who take out max. loans.

Someone did an excel sheet comparing hpsp vs. loan repayment and it weighed heavily in favor of people taking the hpsp. BUT, this really only applies to people attending the top 5 most expensive schools.

Just a simple example: If I attend USC, noted to be one, if not the most expensive school in the nation, I will benefit approx $100,000 net dollars in benefits per academic school year. $75,000 for tuition/fees + $25,000 in stipend money. Note, that the $25k per year income is very slightly taxed simply because it falls in the lowest income brackets. Therefore you will be taking home approx 20-22k per year after taxes. The last academic school year is only 2 semesters so the benefit is approx $75000.

Considering 4 years of dental school, a student at USC will benefit approximately $375,000 (+20K more for the bonus they add for 4 year scholarships). Let's just round that number to 400K as I'm not taking into account interest on loans.

Now, after the student gradutes, he/she will have to serve 4 years in the military. Strickly speaking in terms of finance, a Captain with <2 years of experience will earn around $60-75K per year. With a lot of tax benefits for being in the military, the take home will be around $50,000 per year. This is very low compared to working in the private sector but people don't realize that the past 4 years we were in essence being paid 100K/year to attend dental school. So add your salary $50K + 100K in scholarship money and your net take home in theory per year of serving is $150,000.

Can anyone straight out dental school earn $150K net salary? IMPOSSIBLE

$150,000 per year net is over $200K in gross. Many dentists working 10+ years do not take home that much. Surely, a newly minted dentists will not come close. Maybe around the 4-5 year mark, a senior associate at a private practice may produce 500k/year and take home 35% but that still doesn't equate to 150k/year.

Bottom line is, the military option for the top 5 most expensive schools makes sense financially. Does it make sense personally? That is up to you. Many people have their reasons for not doing it and that's perfectly fine. Just FYI for those considering it, many of my professors and even my dean suggested doing it simply because it is a good deal.

 

[xhamburgersamx]

besides money, could you guys elaborate good reasons to do the military route and good reasons not to so that rest of us could make an informed decision. Basically i want to travel to new places and explore exotic places I would probably never get chance to due to private dental office or if i take vacation from private practice, my wife would probably never approve of us going...shes more into going to bahamas or paradise and disneyworld...u get the picture.

hey Korndoctor, you should contact current military dentists out there. Many of them love the military and many do not. You have to join up with an open mind and be positive about the whole thing. You always have to consider that the gov't paid for your entire education and for that you have to be grateful for serving your time. I wouldn't join to travel because you never know what will happen in terms of stationing.

 

[json896]

I'm starting to get annoyed when people say don't do HPSP for financial reasons. It's obviously that most are doing it for that sole purpose. .

You need to be careful how you ccalculate your "NET INCOME" as you are making some gross mistakes regarding loan payback as income in the military.

Average dental salary in a private practice is 200k/year. Out of school you can expect to make a little less than 100k/year. If your not making this money as a dentist you either are a bad dentist or in the wrong part of teh country or chose academics or community work.

But you cannot include student loan repayment into your salary as an officer. YOu have to note you will be paying about 20-30k a year in loan repay. so average start off dentist associate around 100k take home 70-80k. then subtract loan repay. your take home is is around 40-60 k a year.

Which is right around what you would take home as an o3 officer in teh military for first four years out around 40-60 a year. but after those fours years of AD you will be making 20-30 k more a year until your load would be repaid as you have no debt. so instead of around 130k a year take home with no military your pulling in 150k a year with the military.

But you have to also take into account. you CANNOT start a private practice those 4 years in IRR> as if you buy a buisness then get called to active duty,. you are gone for a year and stand the chance of losing customers and possibly buisness. ALso, while on active duty you are once again making 40-60k a year. versus your 150k as practicing dentist. Which is a loss of 100k income for just a year.

NOw chances of IRR call up vary between sectors. but if in army its pretty high right now and probably in the future.

All in all. you basically stand to pull in the same first four years out of dental school then about 20-30k a year for the next 5 or so. But after that your about even.

so if you analyze it correctly there is not a huge $$ advantage to the HSPS over loans as a practicing dentist

However, for the years while in school as you will get 5-10k more a year to live off of.

SO net you gain 140k-190k over a 14 year period of net income for the HPSP versus loans. BUt if you are ever called into IRR for one year it would be 40k-90k, if more than one year, then loans turn out with a 10k to 60k gain in net income.

SO definately DO NOT do it for the money. as over a 15 year period it is no real net gain.

 

[json896]

Forgot 20k sign on bonus. After taxes take home 15k.

SO net you gain 155k-205k over a 14 year period of net income for the HPSP versus loans. BUt if you are ever called into IRR for one year it would be 55k-105k, if more than one year, is is about even

SO definately DO NOT do it for the money. as over a 15 year period it is no real net gain.

 

[Tiankum]

First of all, it's up to 20,000....that totally depends on the funds available. Which, a lot is probably already gone now from both Medical and Dental officers signing up....I would definitely get how much your going to receive down in writing before you sign anything...and if you go Navy,...you'll have a mandatory 6 month deployment while serving in their dental corps. ...my two cents

 

[json896]

yes definately funds need to be available. I do not know about the navy or air force. but army still has money available. so get it before its gone

 

[xhamburgersamx]

yes definately funds need to be available. I do not know about the navy or air force. but army still has money available. so get it before its gone

First off, i know you have no understanding of money or taxes because anyone who thinks grossing 100k and taking home 80K is a complete nut.

FYI: The 20K bonus is 20k, everyone who signs on for that gets it (army and navy). ALL hpsp programs have an a specific amount of gov't funding and that is determined by the # of scholarships they can give out per year. Hence if the navy has 50 scholarships avail. they will allocate at least 100k per year in funding per scholarship or 50 million dollars total. Not every student needs 100k in benefit, some less, some more so no one on HPSP needs to worry about the gov't running out of money, they can always print more.

Only 1 dentist in history has been pulled off IRR so most don't need to worry as I said earlier. This it is even less likely now that new dental students are signing up and there are people leaving practice to join in. You have to take into consideration civilian contract workers in the military too. The likely chance of recall from IRR is very, very low.

Anyways, I'm not posting here to encourage anyone to the join the military because it is a great lifestyle or will open doors for great opportunities. All i want to get through is that it is a GOOD deal financially for those that can understand realized income vs. potential or theoretically income.

Basically in theory, I can I make1 million dollars a year in private practice but when it comes down to the dec 31st of that year, my realized income will only be what I actually produced which is really unpredictable. It can be 100K after overhead or 300K after overhead, who knows. But, what you do know is that your pay with the hpsp benefits and o-3 salary is set and established with 100% confidence.

BTW; jason, hpsp gets 1900/month stipend for 10.5 months and 0-1 pay for 1.5 months to live off of, compared to borrowing 6000 per semester to live off. Calculate the net difference. 200K in private practice is such a joke because you won't be able to establish one until you pay off at least half your student loans. That is unless you want 300k student loans, 500k practice loan and whatever else for your house/car.

 

[yuppers]

First off, i know you have no understanding of money or taxes because anyone who thinks grossing 100k and taking home 80K is a complete nut.

FYI: The 20K bonus is 20k, everyone who signs on for that gets it (army and navy). ALL hpsp programs have an a specific amount of gov't funding and that is determined by the # of scholarships they can give out per year. Hence if the navy has 50 scholarships avail. they will allocate at least 100k per year in funding per scholarship or 50 million dollars total. Not every student needs 100k in benefit, some less, some more so no one on HPSP needs to worry about the gov't running out of money, they can always print more.

Only 1 dentist in history has been pulled off IRR so most don't need to worry as I said earlier. This it is even less likely now that new dental students are signing up and there are people leaving practice to join in. You have to take into consideration civilian contract workers in the military too. The likely chance of recall from IRR is very, very low.

Anyways, I'm not posting here to encourage anyone to the join the military because it is a great lifestyle or will open doors for great opportunities. All i want to get through is that it is a GOOD deal financially for those that can understand realized income vs. potential or theoretically income.

Basically in theory, I can I make1 million dollars a year in private practice but when it comes down to the dec 31st of that year, my realized income will only be what I actually produced which is really unpredictable. It can be 100K after overhead or 300K after overhead, who knows. But, what you do know is that your pay with the hpsp benefits and o-3 salary is set and established with 100% confidence.

BTW; jason, hpsp gets 1900/month stipend for 10.5 months and 0-1 pay for 1.5 months to live off of, compared to borrowing 6000 per semester to live off. Calculate the net difference. 200K in private practice is such a joke because you won't be able to establish one until you pay off at least half your student loans. That is unless you want 300k student loans, 500k practice loan and whatever else for your house/car.

Just remember that the 20k bonus and the 1900 stipend are the amounts before taxes.

 

[xhamburgersamx]

Just remember that the 20k bonus and the 1900 stipend are the amounts before taxes.

For most students, 20K + 4 months of stipend for school beginning late august is only 28K per year. The tax rate at that income bracket minus std. deductions is about 10% + any state taxes.

So the take home is 85-90% 🙂 FYI: you get taxed 30% on the bonus but you get a fat refund check later.

 

[JrZyBud]

To everybody, I really do appreciate all the replies....

I'd like to say that my dad was a navy dentist for 16 years and he mentions that getting out after your commitment is fullfilled is probably more advisable, but he never regrets his service. We are all going to be dentist with a 9-5 so why not spend 4 years doing something different. My father was stationed in Puerto Rico at one point and had the opportunity of going on a midnight cruise aboard a Brazilian sub.

also, if you serve aboard an aircraft carrier, you can get back-seat certified and ride shotty with pilots on fighters as they fullfill flight time requirements.

I guess i am saying we are not going to get a chance to do something like this after we settle down and start practicing, so i think that even though i will be being told who to treat and where to work....i will still be a dentist...possibly one that gets to experience something not many do.

as for the money after 4 years of service....I can open shop without student loans and start banking if i want

I'm in! Where do I sign up?

 

[json896]

First off, i know you have no understanding of money or taxes because anyone who thinks grossing 100k and taking home 80K is a complete nut.

BTW; jason, hpsp gets 1900/month stipend for 10.5 months and 0-1 pay for 1.5 months to live off of, compared to borrowing 6000 per semester to live off. Calculate the net difference. 200K in private practice is such a joke because you won't be able to establish one until you pay off at least half your student loans. That is unless you want 300k student loans, 500k practice loan and whatever else for your house/car.

You can tell so many people in here have not actually looked into teh buisness portion of running a practice or the finances.
IN no way do you need to pay off your loans befor you buy a practice. For a dental practice loan it is between 5 and 10 year loan, usually 5-7. THis loan comes out of your buisness bottom line along with every other buisness expense. NOT YOUR SALARY. so you still take home gross income.

Few things you need to realize. If you have kids do community work. etc. you get huge tax credits. I already ahve 3 kids and receive over 10k in tax breaks a year. second of all 200k is the average private practice salary. Go ask your local dentist what his salary is. owner NOT associate. If you decide to be an associate for more that 5 years that is your buisness. and your losing out on income.

and just so you get teh correct infor, It is like 1992 a month for army and is lieutenants pay of 3500 a month when on AD. each branch is different and army pays the most. air force the least

 

[json896]

Only 1 dentist in history has been pulled off IRR so most don't need to worry as I said earlier. This it is even less likely now that new dental students are signing up and there are people leaving practice to join in. You have to take into consideration civilian contract workers in the military too. The likely chance of recall from IRR is very, very low.


Basically in theory, I can I make1 million dollars a year in private practice but when it comes down to the dec 31st of that year, my realized income will only be what I actually produced which is really unpredictable. It can be 100K after overhead or 300K after overhead, who knows. But, what you do know is that your pay with the hpsp benefits and o-3 salary is set and established with 100% confidence.
.

o3 pay is a joke, you would make more as a hygienist a year, or even a bank teller. your truely have no idea what dentists make or what their overhead is. today we pulled in 15k tomorrow is set at 10k. basic thing is, you can pull in tons of money.. It is just what your willing to do. Another dentist i shadowed at only does filling and extractions so his income is very low. WHere as teh guy today sat an implant and does root canals and pretty much every other proceedure you are taught to do.. LIke i said before, if your not making 200k it is your own fault for being lazy or running a bad practice.

only 1 dentist in history, give me a break. i agree chances are low, but low does not mean dont exist.

before you try and be a "smart guy" check your facts and do some research

 

[alec0884]

o3 pay is a joke, you would make more as a hygienist a year, or even a bank teller. your truely have no idea what dentists make or what their overhead is. today we pulled in 15k tomorrow is set at 10k. basic thing is, you can pull in tons of money.. It is just what your willing to do. Another dentist i shadowed at only does filling and extractions so his income is very low. WHere as teh guy today sat an implant and does root canals and pretty much every other proceedure you are taught to do.. LIke i said before, if your not making 200k it is your own fault for being lazy or running a bad practice.

only 1 dentist in history, give me a break. i agree chances are low, but low does not mean dont exist.

before you try and be a "smart guy" check your facts and do some research

Take it easy....

the post you are replying to actually makes a valid point. As graduating dentist are futures will be uncertain, at least until we get our feet wet and begin paving our way towards that day we open our own offices, but for those of us looking for a little more security this scholarship is exactly that. Considering the 4 years of school they pay for, the salary you are given as an officer, and the benefits you will have accrued over the years you will certainly be making a very fair income for those 4 years of service.

Just remember:
- tuition, bonus, and stipend
- university required equipment (comp, loops, healthcare, instruments, etc)
- O3 salary or higher
- housing allowance and others
- military benefits

i bet if you factor all this together it is close to 200K a year for those 4 years of service....in my opinion not to shabby for a rookie dentist.

p.s. u seem very sure of your ability and that is fine.....but coming out of dental school you will certainly not be making those figures you seem to expect

 

[subdoc]

o3 pay is a joke, you would make more as a hygienist a year, or even a bank teller.

Wow, you must be loaded! As a serving O3 I can attest the statement is not based in fact. All military pay is locality-driven. Most baby O3s can count on taking home around 5k/month plus dental bonuses. Baby O3s would be O3 under 2 on the pay chart. In two years you would be O3 over 2. You can expect raises each year on BASE PAY at roughly 3.4%.

http://www.navycs.com/2010-military-pay-chart.html

Remember, housing allowance and BAS are NOT taxed. Don't just look at the taxed base pay. Also, figure in the benefits of not paying for your health insurance, commissary and exchange privileges, and things like not paying for gym membership, etc...There are plenty of calculators out there to calculate CIVILIAN EQUIVALENT pay. I would place a baby O3 dentist to have an equivalent pay of about 100-110 k/yr. Figure your 3/k month loan repayment (actual cost about 4k/mo unless you can itemize your taxes enough to deduct student loan interest.) So, by NOT having loans, you could figure to make ROUGHLY 150k/yr during the four years commitment, and not have the remainder of your loan to pay off...

Also, I have done LOTS of shadowing at base clinics and have continue to have excellent contact with the staff. My bits of knowledge and access are a wee bit ahead of the recruiters you have been speaking with.

Good thread...IMO, only do HPSP if you are genuiniely interested in serving. DON'T do it for the money - if money, vice service is your prime motivator, you will not be a happy camper and the burocracy and lack of independence will get to you.