You are correct, the 70k/ year includes all your extra pay (housing, food, clothing allowances), podiatrists do not to my knowledge recieve incentive/specialist pay like the MD/DO do, so there is also a monetary hit there as well. As for being competative, I think the program is very competative, out of all the schools and all current students, I only know one other podiatry HPSP student and a third who just started residency. It is a pretty large hassle to get into the program, but be persistant if you want it. I feel in some aspects podiatrists get the bad end of the deal when compared with other medical professionals, but it depends on what you want to do. You may only start making 70k year, but you will have no debt and can retire after 20 years and join a private practice if you wish. I think it also depends on what type of life you want, if you want to make 200k / years right out of residency you will most likely have to get lucky, and work very hard to achieve that, the Navy allows you to earn a set amount while getting comfortable with you skill set after residency.