Good Morning All,
It seems that Navy HSCP is not a popular program (understandably) for most on here. I think I'm one of the few unique cases where it makes a ton of sense but wanted to bounce my logic against y'all for devils advocacy and contrarian perspectives. (@Big Time Hoosier I've seen you active recently albeit on the Dentistry side of the conversation)
I have 12 years active duty service in the Marines, left as an E-6 and was recently accepted into HSCP 4-year MC. I start med school this fall, and have 32/26 total months remaining of my Post 9/11 GI Bill (my back of the napkin math has me at about 3 1/2 years of tuition and fees covered by GI Bill). I'm under the impression I'll get E-6 pay at over 12 years + entitlements (~$94k/year in my area before tax on basic pay), once I complete med school I'll be commissioned as an O-3E with over 16 years (~$140k/year before tax). I cant figure out if I'll be eligible to retire at 20 after my kickback tour or if I'll need to wait/serve 3-4 more years afterward to complete 8 years of commissioned time (4 active + 4 IRR). I'm hoping to retire as an O-4/O-5 somewhere between 20-25 years of active service (determined by where I do my residency) which would put me at or around $58-70k/year in pensioned income.
I'm not overly concerned with a specific specialty, I'm more concerned with loving what I do and would love to work with the underserved veteran population once I've retired from active duty. I'd also be eligible for the military match/residency which would mean I'd get paid O-3E pay over 16 during residency vs $55-60k/year I've heard civilian residents get. I have a wife (who works) and kids so not having an income or living off of loans exclusively would be pricey.
Thoughts, comments, concerns????
It seems that Navy HSCP is not a popular program (understandably) for most on here. I think I'm one of the few unique cases where it makes a ton of sense but wanted to bounce my logic against y'all for devils advocacy and contrarian perspectives. (@Big Time Hoosier I've seen you active recently albeit on the Dentistry side of the conversation)
I have 12 years active duty service in the Marines, left as an E-6 and was recently accepted into HSCP 4-year MC. I start med school this fall, and have 32/26 total months remaining of my Post 9/11 GI Bill (my back of the napkin math has me at about 3 1/2 years of tuition and fees covered by GI Bill). I'm under the impression I'll get E-6 pay at over 12 years + entitlements (~$94k/year in my area before tax on basic pay), once I complete med school I'll be commissioned as an O-3E with over 16 years (~$140k/year before tax). I cant figure out if I'll be eligible to retire at 20 after my kickback tour or if I'll need to wait/serve 3-4 more years afterward to complete 8 years of commissioned time (4 active + 4 IRR). I'm hoping to retire as an O-4/O-5 somewhere between 20-25 years of active service (determined by where I do my residency) which would put me at or around $58-70k/year in pensioned income.
I'm not overly concerned with a specific specialty, I'm more concerned with loving what I do and would love to work with the underserved veteran population once I've retired from active duty. I'd also be eligible for the military match/residency which would mean I'd get paid O-3E pay over 16 during residency vs $55-60k/year I've heard civilian residents get. I have a wife (who works) and kids so not having an income or living off of loans exclusively would be pricey.
Thoughts, comments, concerns????
