Stipend Increase?

[ChiefSchlep]

Weren't we supposed to get a raise on our last stipend payment?

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[jfitzpat]

Weren't we supposed to get a raise on our last stipend payment?

The next one. The raise didn't kick in until September 1.

 

[Smills91]

I heard the stipend is currently around 1600 and will jump up to around 1900 next year...is this true?

 

[ChiefSchlep]

Yes, I guess you could say it is "official." It came down in a memo from the Sec of Defense. I don't know if there's anything more official than that.

 

[dexterraz]

What is this for? Does it have anything to do with the Navy?

 

[Blando]

hey chiefschlep, is that malavich or priest?

 

[Flakbait9]

Straight from an email from my recruiter:

Stipend goes to $1605 Sept 1 2007 (so already).

As of July 1 2008 it goes to $1907.

The Navy currently has a $20,000 cash signing bonus, unlike the other two branches. The AF always seems to make their full quota of dentists, so they probably won't offer it (just my guess). The Army is working on the bonus for next year (the 2008 freshman class) but it's not finalized yet. Hope that helps.

 

[shamrock2006]

Did anyone get the stipend increase as of July 1? Mine didn't change.

 

[eric275]

Did anyone get the stipend increase as of July 1? Mine didn't change.

As you stated the stipend increase in effective July 1. The pay check you just recieved was for the end of June. So you should she the increase on your mid-month check.

 

[KOM]

As you stated the stipend increase in effective July 1. The pay check you just recieved was for the end of June. So you should she the increase on your mid-month check.

Sweet, more beer money. Actually, I'm glad I only did the 3 year scholarship. With all this extra stipend money I bet I'll be able to take a big chunk out of first year's tuition.

 

[BigLou]

With the new $1907/month, what is the out-the-door figure after taxes?

 

[btizzels]

As with anything that is taxed, it will depend on what you type of withholdings you have. I think it is the number you put on the W4 form.

 

[blankguy]

Doesn't the military give you a W-2 form at the end of the calender year?

 

[DR Dentist 09]

Yes. I usually receive mine mid-January. I am not sure how their mailing process works for them but you do indeed get a W-2 early on in the year.

 

[KOM]

With the new $1907/month, what is the out-the-door figure after taxes?

I'm getting a cool $910 bi-weekly. I was able to pay $750 the first month towards first year loans, and imagine I'll be able to do so each concurrent month. 3 years of that = 27K = wiping first year's expenses in half.

I'm definitely enjoying this decision!

 

[krmower]

Straight from an email from my recruiter:

Stipend goes to $1605 Sept 1 2007 (so already).

As of July 1 2008 it goes to $1907.

The Navy currently has a $20,000 cash signing bonus, unlike the other two branches. The AF always seems to make their full quota of dentists, so they probably won't offer it (just my guess). The Army is working on the bonus for next year (the 2008 freshman class) but it's not finalized yet. Hope that helps.

Army implemented their $20,000 signing bonus back in January 2008. Currently Army and Navy programs both offer the same deal/incentive. I have the memo if anyone needs it for the Army.

 

[Herme]

I just met with my AF recruiters Tuesday and turned all of my paperwork in for hpsp. They told me that the rumor coming from above is that the stipend is going to be increased on Oct 1, 2008 from $1907 to $2,400 a month and will take place on July 1, 2009.

 

[jim85213]

I hope that's true but don't hold your breath.

 

[caloriefree]

I just met with my AF recruiters Tuesday and turned all of my paperwork in for hpsp. They told me that the rumor coming from above is that the stipend is going to be increased on Oct 1, 2008 from $1907 to $2,400 a month and will take place on July 1, 2009.

$2400!!
Is the stipend taxable?

 

[KOM]

Yes, it's taxable.

Wow though, $2400? If recruiters are spitting it out then I wouldn't put any faith in it, but that sure would be sweet. Damn...if anyone else catches wind of this please keep us updated. With that kind of money I could pay off first year loans, start contributing to my IRA again, and even buy the wife something nice.

 

[MaxAnn]

The military really doesn't get enough credit for how it mangaes the hpsp. Everything for the hpsp doesn't happen exactly when it should, but it eventually does. In all, I think the hpsp has quietly become a well-oiled machine.

The yearly pay raises in the military are significant because they are comparable to the cost of living increases that occur yearly as well. Having worked some lackluster civilian jobs, I can attest that "joke" pay raises such as 0.15 an hour readily occur in the civilian world, making essentially no substantial change to the employee's standard of living.

Whether this pay raise happens or not, we can all believe that some sort of increase will take place. As clinicians, the civilian world will always offer more money and prestige, but for other skill sets, I can see why the military might appeal to them.

 

[HawkeyeDDS]

Beats the snot out of the $1060 a month I got. Yes it's all taxable, the only things that are not taxable are the "allowances". If it says "Pay" on your pay stub, it is taxed. For example when you are on active duty you get a "basic ALLOWANCE for Housing" (BAH) not taxable, but "Special Pay" it's taxable.