Need Advice: HPSP or No HPSP?

[iDentastic]

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Hi everyone,

So I'm in a bit of a dilemma. Initially, I was all set to do the HPSP because I thought I was going to be in about 400k of debt. However, my parents are helping me off-set the expensive cost by paying for everything except tuition (partly because I went to undergrad for free and we've been living frugally for a long time). Therefore, now I only have to take out about 250k in loans.

My question is... is it still worth doing the HPSP for 4 years if I'll only be in 260k of debt (plus interest)? After thinking about it for a while, I realize that I was mainly doing it because I was concerned about an enormous amount of debt (400k) and not necessarily because I wanted to serve. It's a GREAT deal, however, I realize that it might be worth it now NOT to do the HPSP, practice as an associate for 3-4 years, and then start my own practice by the time I would have originally fulfilled my HPSP contract if I were to accept it. IBR and tax deductions could also help with my remaining tuition debt, too.

My dad also suggested that I could take the HPSP, assuming I get it, and then he would help me pay for part of my own practice with the ~120k** that he would have initially given me for dental school.

What do you guys think I should do?

 

[user101]

you shouldnt do the hpsp bc you are 'mainly' -->only interested in the program for the $$

 

[NAVY DDS 2010]

Hi everyone,

So I'm in a bit of a dilemma. Initially, I was all set to do the HPSP because I thought I was going to be in about 400k of debt. However, my parents are helping me off-set the expensive cost by paying for everything except tuition (partly because I went to undergrad for free and we've been living frugally for a long time). Therefore, now I only have to take out about 250k in loans.

My question is... is it still worth doing the HPSP for 4 years if I'll only be in 250k of debt (plus interest)? After thinking about it for a while, I realize that I was mainly doing it because I was concerned about an enormous amount of debt (400k) and not necessarily because I wanted to serve. It's a GREAT deal, however, I realize that it might be worth it now NOT to do the HPSP, practice as an associate for 3-4 years, and then start my own practice by the time I would have originally fulfilled my HPSP contract if I were to accept it. IBR and tax deductions could also help with my remaining tuition debt, too.

My dad also suggested that I could take the HPSP, assuming I get it, and then he would help me pay for part of my own practice with the ~150k that he would have initially given me for dental school.

What do you guys think I should do?

If you don't want to join the military for reasons other than the money, DO NOT JOIN! Your reasons, other than money, need to far outweigh the monetary reason otherwise you will find yourself very unhappy with your decision. I have seen this happen and it has made all those around unhappy to deal with them.

 

[sparky450r]

you shouldnt do the hpsp bc you are 'mainly' -->only interested in the program for the $$

What are you talking about? Its called a scholarship for a reason.


Anyway, I have also been contemplating the same things. I will be taking out roughly the same amount as you if all goes as planned and I do NOT plan on doing the scholarship. While I feel that it would be an honor to serve our country as an officer, I do not like all the uncertainty that's involved. I will have a wife through dental school, and possibly children around 4th year. This has been a strong factor in my decision.

 

[dantemac]

Only join if you want to join the military.

 

[aqz]

I've been looking into HPSP for more than half a year now, and as far as I can tell, unless you see yourself having an extremely exciting lifestyle with a tightknit bunch of friends as a graduated associate, you should still do HPSP.

Also, I don't believe in the "money should be far outweighed by other factors" philosophy. I'm certainly doing it for the money, but also because I know I will enjoy myself in some place new and different, whereas I'd probably hate my life if I was stuck in the same suburban clinic mill everyday. It might be harder in the military, but it probably is also more fulfilling.

2 cents of the day.

 

[NAVY DDS 2010]

I've been looking into HPSP for more than half a year now, and as far as I can tell, unless you see yourself having an extremely exciting lifestyle with a tightknit bunch of friends as a graduated associate, you should still do HPSP.

Also, I don't believe in the "money should be far outweighed by other factors" philosophy. I'm certainly doing it for the money, but also because I know I will enjoy myself in some place new and different, whereas I'd probably hate my life if I was stuck in the same suburban clinic mill everyday. It might be harder in the military, but it probably is also more fulfilling.

2 cents of the day.

Your thought is based on an idea. Mine are based on experience. If you don't believe me, go to the mlitary medicine forum and ask the same question. Most of them made their decision to join based on money, not the thought of serving.

 

[azimmer]

I'm planning to apply for the NHSC scholarship. If I get the scholarship, I'm only accepting two years worth of scholarship money. I think it's a great way to lower your debt as well as help the under-served. You should look into the NHSC I think they're doing a great thing in resolving access to care problems. Also, the two year option is great because if you feel like it isn't the thing for you, it's better than being miserable for four years.

 

[AKGopher]

I'm doing HPSP because I wanted to serve, but its also a family tradition (my dad is USAF also). First make sure if you have significant others that you talk to them about it, because if you sign up and stay with them they are just as committed as you are. My fiancé and I talked about it for a while before I signed up. There are pros and cons to the program just like there are pros and cons to civilian practice. IMO I wouldn't just survey SDN in this area or the military area, because there are some pretty strong opinions for and against that never change on here. Call a recruiter, call a military base and ask to speak with a dentist there. Keep in mind that officer life is very different than enlisted life, so take advice that you get from people that didn't go to college yet as a grain of salt. You'll be an officer with limited need of tactical training, so officer's training will be different for you than if you were going to be a pilot.

Is the money great? Absolutely. Should it be a big part of your decision? Absolutely. My fiancé and I are able to live very comfortably right now, and even save some retirement money (a HUGE benefit). But if you're doing it JUST for the money, there are easier ways of going about it. You could tough it out during your commitment if you were miserable, but really think about what you see yourself doing after dental school. That's when you'll decide if its a good route for you to go.

 

[aqz]

Your thought is based on an idea. Mine are based on experience. If you don't believe me, go to the mlitary medicine forum and ask the same question. Most of them made their decision to join based on money, not the thought of serving.

I don't doubt your experience is far more knowledgeable than my idea. However, I don't think I'm wrong in saying that doing HPSP for the money is not bad for you or for anyone else whom you'd affect if you learn to appreciate the military for what it offers and keep a positive attitude towards lifestyle changes instead of being unhappy with your situation. Maybe I didn't make that clear in my first post.

To add on, a 3 or 4 year commitment may seem long, but in the long haul, it's really only 4 years if you really decide on Day 1 that your situation stinks. Unless you're leaving behind a family, kids, or as I mentioned before, a super closeknit group of friends (this shouldn't even matter, you make friends everywhere), why bother being unhappy? Especially when it's only 4 years?

The point I'm trying to make is that...those who are unhappy with HPSP are not the ones who do it for the money. They are the folks who cannot relinquish their previous happiness in pursuit of new happiness. In the end, those are also the folks who most likely won't be happy at all anyways.

 

[user101]

What are you talking about? Its called a scholarship for a reason.


Anyway, I have also been contemplating the same things. I will be taking out roughly the same amount as you if all goes as planned and I do NOT plan on doing the scholarship. While I feel that it would be an honor to serve our country as an officer, I do not like all the uncertainty that's involved. I will have a wife through dental school, and possibly children around 4th year. This has been a strong factor in my decision.

IT IS THE MILITARY..the person said they are mainly interested only for the $$ not for the service or experience. If he/she won't be happy during their commitment it won't be worth it.

I HOPE NOW YOU UNDERSTAND WHAT I'M TALKING ABOUT

 

[UCSD6]

All of you green-eyed predents, 4 years of dental school, 4 years of hpsp that 8 years of your life and many times the prime of peoples lives. Therefore these commitments shouldn't be taken lightly. The issue of doing military just for the money, when you are deployed to afghanistan and RPDs are exploding near your base, or u need to ride to a outpost and need to worry about IED, reality is your being offered more money, because alot of times you are put in hostile, not so safe places. Now if that risk is worth the money then so be it. That is why its important to have some intrinsic desire to serve other than money. Those days will be long when ur in war zone away from ur family.

 

[NAVY DDS 2010]

I don't doubt your experience is far more knowledgeable than my idea. However, I don't think I'm wrong in saying that doing HPSP for the money is not bad for you or for anyone else whom you'd affect if you learn to appreciate the military for what it offers and keep a positive attitude towards lifestyle changes instead of being unhappy with your situation. Maybe I didn't make that clear in my first post.

To add on, a 3 or 4 year commitment may seem long, but in the long haul, it's really only 4 years if you really decide on Day 1 that your situation stinks. Unless you're leaving behind a family, kids, or as I mentioned before, a super closeknit group of friends (this shouldn't even matter, you make friends everywhere), why bother being unhappy? Especially when it's only 4 years?

The point I'm trying to make is that...those who are unhappy with HPSP are not the ones who do it for the money. They are the folks who cannot relinquish their previous happiness in pursuit of new happiness. In the end, those are also the folks who most likely won't be happy at all anyways.

Let's see .... I was only commissioned in the military in 1999 and worked directly with medical and dental officers until I went to dental school.. No, i have no clue. Sorry to put down your idea and lack of experience in this area. Only joining the military because of money is no big deal.

Dude, you have no clue. Just ask those in the medical forum who did for the HPSP money. You may say" well they are physicians and not dentists". Well, dentists do the same. Thyr justaren't on thissitecomplaining. I know of a couple Navy dentists who regretted it and made the lives around them miserable. One ended up getting his priviledges taken away and eventually kicked out. Inthese cases, the money was the driving factor.

 

[aqz]

Let's see .... I was only commissioned in the military in 1999 and worked directly with medical and dental officers until I went to dental school.. No, i have no clue. Sorry to put down your idea and lack of experience in this area. Only joining the military because of money is no big deal.

Dude, you have no clue. Just ask those in the medical forum who did for the HPSP money. You may say" well they are physicians and not dentists". Well, dentists do the same. Thyr justaren't on thissitecomplaining. I know of a couple Navy dentists who regretted it and made the lives around them miserable. One ended up getting his priviledges taken away and eventually kicked out. Inthese cases, the money was the driving factor.

You're saying everyone who goes in for money do not and will not end up caring about the military at all. Not the lifestyle, not the people, and definitely not the chance to serve our country. Personally, I don't care where I am or what I'm doing, there's no way I will let my own depression/pessimism affect others as a professional. I'm not going to go into details, but I take great pride in my job no matter what it is.

I'm saying I wouldn't join the military for the heck of it, but given the money, I sure as hell would learn to appreciate everything about the military and adapt my standard of happiness to whatever abysmal level you're claiming. Sorry I'm not somehow intrinsically motivated to be in the military because I didn't have any military background, but I think you're wrong for trying to write off my motivation and determination to love the military once I commit to it.

Furthermore, based on your philosophy, the thing I love the absolute most...the thing I'm the most passionate about as far as I can tell is not dentistry. It's tennis. So I should drop my anatomy book and go train to become a professional tennis player then? Or could I be more realistic and do dentistry...something that I don't love as much but it's definitely something I've learned to love over a period of time?

Once again, I do not doubt you and your 10+ years of experience and I trust that what you are saying is real. However, I believe in myself and my willpower to be happy regardless of what kind of tough situation I'm faced with. You should know better than anybody else about how hard life can be. Don't try to discourage me from willing to take on challenges.

I'm going to stop here because I think I've made my point and I want the focus to be on answering OP's question, not questioning my own motives. Please PM me if you or anyone else wants to continue this discussion or go more personal into the issue.

To the OP: Listen to what NAVY DDS and the others have to say. It's a good check for yourself, especially if you truly feel like you're only in for the money. But if you feel like you will regret it later on because you're 300k in debt and looking back, you felt like you could've learned to love the military, check your heart.

 

[sparky450r]

IT IS THE MILITARY..the person said they are mainly interested only for the $$ not for the service or experience. If he/she won't be happy during their commitment it won't be worth it.

I HOPE NOW YOU UNDERSTAND WHAT I'M TALKING ABOUT

I would bet my next paycheck that the only reason the majority of people sign up for the scholarship is for the MONEY. You came off like the OP was the only one.

 

[drill-and-fill]

Like many people stated already, I think you should carefully weigh the pros vs cons before signing up for HPSP... Sure the money is great and all, but would it be worth the stress and strains that the military service is going to put on you and your loved ones? If you're single without family obligations then I think HPSP will be a good program, for the obvious monetary support and a chance to explore the world. If you're married and have a family or thinking about getting married during dental school, however, I would think twice about signing up for HPSP unless you're absolutely sure that your significant other can and is willing to bear the burdens of you being away for up 12 months at a time and the possibility of you coming back with injuries, however remote that possibility may be for a dental corps officer ... Just my two cents.

 

[TOMS90]

to OP:

I am single with no family obligations and I don't even think I can do it...

 

[periopocket]

If you have any doubts do not do it! 250k is not that bad!!

 

[dantemac]

I think saying "doing it for the money" and "avoiding debt" are two different things. If you're in shape, your family OKs the change, you can take orders + direction of your superiors, don't mind change/travel, then why not join?

I look at it as gaining more skills first of all. Private practice is always waiting Secondly it is a sound financial choice for a private school.

 

[iDentastic]

Hey guys,

Thanks for all the advice and input. First of all, yes, I was contemplating the scholarship to reduce the huge debt that I'm about to incur soon and I'm sure a good portion of the people doing HPSP are also doing it "mainly" for the money. Does that mean I'm not willing to serve the military? No, I have no problems at all serving our country and I appreciate everything the military has done for me. Coming from a hard-working family, such values are instilled in me and I know I have a high tolerance for doing whatever grueling work needs to be done without complaint. That's just the type of person I am. On the flip side, I will say that I truthfully do not have that gung-ho, screw-the-money-I'm-here-to-serve-my-country-at-all-costs attitude towards serving that you may believe others have.

There are several reasons why I am hesitant to do the HPSP now, however. Obviously, knowing that I'll now have financial help from my parents (room+board, supplies, insurance) really eases some of the fear that I had about loans and interest.

The main concern I have IS spending the prime of my life in dental school and in the military as someone mentioned. This may be silly but I think one of my fears is possibly not having the chance to find that "significant other" until I'm at least 31, when my military commitment is over. Will I in dental school? Maybe. Four years primarily spent at a military camp? Knowing who I am, probably not. The fact that I'll be 31 by the time I START finding that person, marry, and having kids is not a good feeling.

Secondly, I'm also concerned about the valuable experience I would be missing from an associateship that would allow me to jump start my own practice IF I were to do the HPSP. Yes if I did the HPSP, my loans would be payed for and I would have a salary during my commitment (which is a great deal). However, instead, if I work as an associate for several years during that time, I feel as though I could potentially start my own practice sooner and take out a huge chunk of my dental school loans sooner (loans for starting a practice are another story). It would balance out somewhat, financially.

If I were 400k in debt, I would do it in a heartbeat. It's a great deal. With about 250k-260k of debt, I'm much more hesitant. That's where I'm coming from, at least. The hard work and potential danger doesn't phase me that much. If several HPSP candidates died during their commitments.. then I might have a problem. I understand the risks.

 

[MTBer]

I'm doing the HPSP, but only because 1) im prior Navy and know about all the lifestyle, stress, deployments, etc. it's something i've done before and somewhat enjoyed it and 2) to not have a crazy school debt looming over me. But I do want to serve again, only this time as an officer. i enjoyed shadowing the Navy Dentists. They seemed like they enjoyed what they were doing,

 

[periopocket]

Remember there is no free lunch. It does not exist. Those who pursue HSPS will pay their debt in a different manner. Utmost respect for those individuals, but like many have stated they have a long family line or prior experience....GL

 

[88845]

Hey guys,

Thanks for all the advice and input. First of all, yes, I was contemplating the scholarship to reduce the huge debt that I'm about to incur soon and I'm sure a good portion of the people doing HPSP are also doing it "mainly" for the money. Does that mean I'm not willing to serve the military? No, I have no problems at all serving our country and I appreciate everything the military has done for me. Coming from a hard-working family, such values are instilled in me and I know I have a high tolerance for doing whatever grueling work needs to be done without complaint. That's just the type of person I am. On the flip side, I will say that I truthfully do not have that gung-ho, screw-the-money-I'm-here-to-serve-my-country-at-all-costs attitude towards serving that you may believe others have.

There are several reasons why I am hesitant to do the HPSP now, however. Obviously, knowing that I'll now have financial help from my parents (room+board, supplies, insurance) really eases some of the fear that I had about loans and interest.

The main concern I have IS spending the prime of my life in dental school and in the military as someone mentioned. This may be silly but I think one of my fears is possibly not having the chance to find that "significant other" until I'm at least 31, when my military commitment is over. Will I in dental school? Maybe. Four years primarily spent at a military camp? Knowing who I am, probably not. The fact that I'll be 31 by the time I START finding that person, marry, and having kids is not a good feeling.

Secondly, I'm also concerned about the valuable experience I would be missing from an associateship that would allow me to jump start my own practice IF I were to do the HPSP. Yes if I did the HPSP, my loans would be payed for and I would have a salary during my commitment (which is a great deal). However, instead, if I work as an associate for several years during that time, I feel as though I could potentially start my own practice sooner and take out a huge chunk of my dental school loans sooner (loans for starting a practice are another story). It would balance out somewhat, financially.

If I were 400k in debt, I would do it in a heartbeat. It's a great deal. With about 250k-260k of debt, I'm much more hesitant. That's where I'm coming from, at least. The hard work and potential danger doesn't phase me that much. If several HPSP candidates died during their commitments.. then I might have a problem. I understand the risks.

At the $250K debt range, I'd say it's not worth it to enter the HPSP. However, at $400K it's certainly worth entertaining. You can always sign up for the HPLRP after you're a dentist if that desire to serve in the military is still there.

Regarding the HPSP, I find the name of the program misleading. It's not truly a scholarship - it's more of a contract because if you fail dental school, become seriously ill, or change your mind about serving once you're commissioned the "scholarship" and stipend must be paid back in full + interest. The debt will not be transferred to the Stafford Grad loan program; instead, it will be the military that sets up the terms and they are pretty bad (e.g. no deferment, mandatory service, short payback period, etc). In other words, once you commit to it there's really no turning back. For those that want to serve then it's an incredible opportunity.

 

[iDentastic]

At the $250K debt range, I'd say it's not worth it to enter the HPSP. However, at $400K it's certainly worth entertaining. You can always sign up for the HPLRP after you're a dentist if that desire to serve in the military is still there.

Regarding the HPSP, I find the name of the program misleading. It's not truly a scholarship - it's more of a contract because if you fail dental school, become seriously ill, or change your mind about serving once you're commissioned the "scholarship" and stipend must be paid back in full + interest. The debt will not be transferred to the Stafford Grad loan program; instead, it will be the military that sets up the terms and they are pretty bad (e.g. no deferment, mandatory service, short payback period, etc). In other words, once you commit to it there's really no turning back. For those that want to serve then it's an incredible opportunity.

This was really helpful! I always wondered what would happen if you accepted the scholarship and backed out of it towards the end of dental school, especially if you got matched with the residency of your choice and decided the HPSP was longer in your plans. You can't really plan for that when you accept the HPSP. Obviously you would have to pay back the money+interest, however, I wasn't sure about the details.

 

[user101]

I would bet my next paycheck that the only reason the majority of people sign up for the scholarship is for the MONEY. You came off like the OP was the only one.

That is not the attitude one should have when considering this commitment.

I would tell that to anyone not just the OP

 

[dentalWorks]

Personally... I wouldn't do military option.

 

[GOCHARGERS]

I would say go for it. Coming out debt free is a huge thing. I can see why people say "don't do it for the money'', but at the end of the day if the going gets tough...suck it up and make the best of it. it's only 4 years. Nothing in life will always fall into play how you want it to. It's how you make the best of every situation that's presented and move on. That's just my perspective. Good luck with your decision OP.