Thinking about MDSSP for Army Reserve- Help please!

[HinduHammer]

Hey all,
As far as I understand, MDSSP will pay me a stipend for 2 years of med school, I will owe 4 years of Army Reserve time after school which will include one weekend/month+2weeks/year of drill.

My plan if I take the MDSSP is to use the money to live, pay down my loans/interest for tuition, and to maximize financial instruments like Roth IRA every year. After my obligation is up, I would switch to a different Army program that does debt repayment that will pay down the principal of my loan, but not the interest. This is what the recruiting ppl said over the phone in regards to maximizing my situation.

Questions:

1. Is it worth it financially? Why or why not? Let's assume I have no familial help and $50k of personal educational debt, and $90k of educational debt taken by my parents on my behalf.

2. What is the obligation after medical school like? Will I have to leave my residency, travel to a base, etc for 4 years post-med school?

3. Is it worth it overall? (I know this is subjective, but I would like to hear your opinions.) I am pretty physically fit, but my worst fear is missing a weekend of studying before exams or missing my best friend's wedding/whatever because of drill. I also hate waiting in lines, sitting in traffic, and bureacracy in general. I can keep my mouth shut, but that doesn't necessarily fit for me.

Thanks

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[deleted480308]

the long obligation of service makes MDSSP a bad deal unless you absolutely need more cash flow during school.

 

[HinduHammer]

the long obligation of service makes MDSSP a bad deal unless you absolutely need more cash flow during school.

Thanks for your thoughts. If I am trying for loan forgiveness/repayment or scholarship at this point, do you have any programs in mind?

 

[deleted480308]

Thanks for your thoughts. If I am trying for loan forgiveness/repayment or scholarship at this point, do you have any programs in mind?

Work as a civilian in a higher paying job than the military and live on a residents budget until your loans are paid

 

[NYC Healthcare Recruiter]

Hey all,
As far as I understand, MDSSP will pay me a stipend for 2 years of med school, I will owe 4 years of Army Reserve time after school which will include one weekend/month+2weeks/year of drill.

My plan if I take the MDSSP is to use the money to live, pay down my loans/interest for tuition, and to maximize financial instruments like Roth IRA every year. After my obligation is up, I would switch to a different Army program that does debt repayment that will pay down the principal of my loan, but not the interest. This is what the recruiting ppl said over the phone in regards to maximizing my situation.

Questions:

1. Is it worth it financially? Why or why not? Let's assume I have no familial help and $50k of personal educational debt, and $90k of educational debt taken by my parents on my behalf.

2. What is the obligation after medical school like? Will I have to leave my residency, travel to a base, etc for 4 years post-med school?

3. Is it worth it overall? (I know this is subjective, but I would like to hear your opinions.) I am pretty physically fit, but my worst fear is missing a weekend of studying before exams or missing my best friend's wedding/whatever because of drill. I also hate waiting in lines, sitting in traffic, and bureacracy in general. I can keep my mouth shut, but that doesn't necessarily fit for me.

Thanks

Good Morning,

The biggest thing to keep in mind with regards to the MDSSP obligation is that it is in the Army Reserve, so it will only be 1 weekend a month and 2 weeks in the summer (40 days per calendar year on average). So over the span of the 4 years, you'll only be in uniform for 160 days. With that in mind, the trade off begins to look more appealing to most people.

In regards to the monetary aspects, the stipend is a great benefit while in school. The great thing about this program is that you can apply for the Specialized Training Assistance Program (STRAP) once you get accepted to a residency program. STRAP allows you to continue to receive the stipend throughout residency. In addition to the STRAP stipend, you can simultaneously apply for the Health Professions Loan Repayment Program (HPLRP) which will repay up to $250,000 in student loans from undergrad and medical school. All in all, the obligation is significant chuck of time, but it is not very demanding year-for-year. You'll have the freedom to model your civilian career while still being able to serve your nation and be part of the Army team.

The obligation portion of MDSSP/STRAP is not until you are board certified. You will have no actual requirements until post residency. The programs are designed to allow you to focus on your studies so there won't be any scenarios like you described in question 3 until you are board certified.

If you have any specific questions or concerns feel free to reach out the me via email @ [email protected]

 

[SirGecko]

That 160 days is only assuming you don't mobilize/deploy. Remember that the ability to mobilize you is the reason we even have reserves. Drilling reservists don't actually generate much benefit for the military until they get activated. You might only have the 160 days mentioned above but don't be the guy that is surprised and outraged when they ask you to do the thing you signed up for. (And when that happens you likely will miss something important like a good friend's wedding, if you aren't going to be able to accept that the military is likely not for you)