should I reject the 20k sign on bonus?

[frd88]

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Is it true that if I take the 20k sign on bonus, then decide to do an oms residency, that I won't be able to pay back the two obligations concurrently?

 

[vellnueve]

I don't know about the Army but the 20K bonus for accepting an HPSP scholarship doesn't affect your commitments in the Navy.

 

[krmower]

Is it true that if I take the 20k sign on bonus, then decide to do an oms residency, that I won't be able to pay back the two obligations concurrently?

No

 

[del Sol DOHC]

I don't know about the Army but the 20K bonus for accepting an HPSP scholarship doesn't affect your commitments in the Navy.

Accepting the 20k bonus locks you in for a 4 year HPSP commitment. So, even if you only have a 3 year scholarship, accepting the bonus automatically gives you an active duty obligation of 4 years. However, this does not have any effect on obligations incurred from residency programs. They should still be concurrent.

 

[AmericanHero]

I just signed my 20g bonus the other day. Like you, i'm interested in specializing after 4 years of dental school and want to pay back the military only 4 years. The recruiter assured me that the repayment period for the dental school and the specialty will be concurrent even with the 20g bonus. Also in the contract it says that the 20g bonus is repaid concurrent with your HPSP scholarship repayment period.

 

[vellnueve]

The payback for specialty is only concurrent if it is an in-service residency.

 

[dentclc]

I'm about to submit my kit for a 4 year Navy HPSP and my recruiter is telling me that, if I accept the terms of the 20k CSAB, it extends my commitment by one year, even if I get the 4 year scholarship (so, 5 years payback). I don't think this is true, but can someone confirm?

Also - if I do sign it, can I revoke if it I end up being put on an alternate list for the three year scholarship?

 

[del Sol DOHC]

I'm about to submit my kit for a 4 year Navy HPSP and my recruiter is telling me that, if I accept the terms of the 20k CSAB, it extends my commitment by one year, even if I get the 4 year scholarship (so, 5 years payback). I don't think this is true, but can someone confirm?

Also - if I do sign it, can I revoke if it I end up being put on an alternate list for the three year scholarship?

That is not true. One of the items in your HPSP application checklist should be a letter entitled, Election/Declination of Navy Medical/Dental Corps Health Professional Scholarship With Critical Skills Accession Bonus (CSAB) Program. Read it over. Section 3 of that letter should should state the following:

"I understand that if I am selected I will receive an accession bonus of $20,000 (less taxes). I will be required to serve on active duty for four (4) years, and repay full amount of the bonus should I not become or remain a licensed physician or dentist under the guidance of reference (b). I further understand that I will be required to repay the unearned portion of the bonus pursuant to the active duty agreement and title 37, United States Code, Section 302d."

If you initialed to elect the CSAB and signed part 4 of that letter, I honestly don't know if you would be able to deny the bonus if you were to be offered a 3 year scholarship later.

 

[vellnueve]

I concur on both points.

 

[toothhornet88]

Is that true that the 20k bonus will actually be 14k after taxes? Does the govt take 6k in taxes from the bonus??

 

[Kahr]

Is that true that the 20k bonus will actually be 14k after taxes? Does the govt take 6k in taxes from the bonus??

Wouldn't be surprised if they took out even more than that. My first bonus from the Air Force back in 2001 ended up being around 5k from an 8k bonus.

 

[vellnueve]

Is that true that the 20k bonus will actually be 14k after taxes? Does the govt take 6k in taxes from the bonus??

Mine was a little under 14K when you combine fed and state taxes. State taxes obviously depend on your state.

 

[del Sol DOHC]

Is that true that the 20k bonus will actually be 14k after taxes? Does the govt take 6k in taxes from the bonus??

Mine was just under 15k after taxes, so like vellnueve said, it will depend on your state. I don't know what your tax situation will be like, but I ended up getting most of it back when I filed my income taxes for that year.

 

[Nat426]

I'm about to submit my kit for a 4 year Navy HPSP and my recruiter is telling me that, if I accept the terms of the 20k CSAB, it extends my commitment by one year, even if I get the 4 year scholarship (so, 5 years payback). I don't think this is true, but can someone confirm?

Also - if I do sign it, can I revoke if it I end up being put on an alternate list for the three year scholarship?

Not sure if you are thinking they may offer you a 3 year HPSP but last I heard the Navy was no longer offering them.

 

[Tiankum]

Not sure if you are thinking they may offer you a 3 year HPSP but last I heard the Navy was no longer offering them.

Whether or not the Navy offers the 3 year HPSP is dependent on if they were able to fill all 4 year HPSP slots the previous year. For example, say they don't fill all the 4 year HPSP slots this year and have 2 left over, then next year they will offer two 3 year slots to make up for the lack of two dentists they will have once that cycle graduates and comes on AD.

Once you sign your contract, you're legally bound. That includes the 20k bonus. It does not add an extra year if you've taken the 4 year scholarship, however, if you get a 3 year scholarship, then yes, you will have to pay back 4 years AD. 3 for your HPSP and 1 for the SB.

 

[Tiankum]

Mine was just under 15k after taxes, so like vellnueve said, it will depend on your state. I don't know what your tax situation will be like, but I ended up getting most of it back when I filed my income taxes for that year.

What he said.