HPSP Pay ?s

[Davydude7]

I am going to be doing Air Force HPSP for a full 4 years scholarship. I am curious about how the pay works. First, is all of the "stipend" money taxable and reported on a W-2? Second, how many months out of the year am I paid the stipend, and how many weeks of active duty will I be paid for per year? What is the rough total of the pay/year? Third, when will the sign on bonus be deposited into my account?

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[teacherman84]

Yes, the stipend is taxable income. You receive it 10.5 mos and AD pay for 1.5 mos. It ends up being ~24k.
The sign on bonus comes anytime in the first couple months after you start school. It is spread out on 3 checks as 9k, 9k, and 2k

Will you be at COT this summer? Ill be in the 24 May - 25 june class

 

[Davydude7]

Yea, I'll be at COT this summer, but I don't know what dates yet. My application is still waiting for scroll approval. I will likely be at the June-July COT.

 

[Davydude7]

My main concern is really just verifying that the stipend earnings are reported on a W-2, and not a 1099. Anyone know for sure?

 

[teacherman84]

Yes, it is taxable W-2 income