Loans or other options for HPSP?

[grinandbearit122]

Hello, I am currently a D4 dental student on the HPSP. I was wondering if anyone had guidance for some financial support to pay for the ADEX licensure exam and future living expenses for the lapse in stipend payment before attending ODS apart from using credit cards? It’s my understanding that it’s frowned upon to take out student loans and I don’t really want to take out a high interest personal loan but will consider it if there’s no other options. Any ideas?

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[knewstance]

Save your money during the previous years, in preparation for known upcoming future expenses.

 

[grinandbearit122]

Save your money during the previous years, in preparation for known upcoming future expenses.

I’m in my last year unfortunately and cost of living has increased over time so I have not saved very much over the years. It’s looking like some kind of loan is my only option at this point.

 

[knewstance]

There are lots of ways to get more money. You probably have some ADTs that you'll be getting paid as an O1 for 45 days, that will be increased income.

Otherwise, a loan of any kind is your other option. Student loan, personal loan, credit card, family member... I think I can't remember how much I needed during that time. Maybe $2000-ish for boards and then $3-5000 for living expenses for a few months.
If you have Navy Federal or USAA for your direct deposit banking, I believe they offer a service similar to Internet free payday loans if you have a delayed paycheck.

 

[NJ_Doc]

Jumping on this thread, I haven’t seen anything but I am assuming we do not get paid between the time of our graduation date and our DCC/BOLC date? I’m confused on the payment time lines and trying to save up as much as possible as well. Also, do we get pay the same amount like out ADT for BOLC training? After BOLC, do we get paid indefinitely or is there another pause until we resume residency in the fall? Sorry to hijack but these seem relevant and i cannot get a clear answer on these.

 

[knewstance]

Jumping on this thread, I haven’t seen anything but I am assuming we do not get paid between the time of our graduation date and our DCC/BOLC date? I’m confused on the payment time lines and trying to save up as much as possible as well. Also, do we get pay the same amount like out ADT for BOLC training? After BOLC, do we get paid indefinitely or is there another pause until we resume residency in the fall? Sorry to hijack but these seem relevant and i cannot get a clear answer on these.

If you've graduated, you will be promoted to O3. You will get O3 pay starting on your first day of BOLC until you get out of the military. Usually it takes 2-4 weeks for your direct deposit to start again. You have to reset everything. A great time to switch to USAA/Navy Federal if you haven't already.

You do not get paid from the date of graduation until you start BOLC. There should be no pause between each phase because they will be putting you on leave between each step.

For the Army at least, HPSP stipends are paid through the reserves, while your active pay is through the regular Army. This is probably similar for other services.

 

[Guocamole]

Hello, I am currently a D4 dental student on the HPSP. I was wondering if anyone had guidance for some financial support to pay for the ADEX licensure exam and future living expenses for the lapse in stipend payment before attending ODS apart from using credit cards? It’s my understanding that it’s frowned upon to take out student loans and I don’t really want to take out a high interest personal loan but will consider it if there’s no other options. Any ideas?

Get a career starter loan from navy fed for 10k interest free. Or open a new credit card with 0% apr the first year and pay it off as soon as you start getting O-3 pay when you start