Lets say you finished dental school. You didn't get the hpsp or hpcp scholarship since it is very competitive to get. Does the military offer any type of package if you decided to work for them after graduation a certain amount of years? Would it be a financially viable choice if you have 400k plus loans? I have always been interested in the military and have friends in it so would not mind joining after becoming a dentist. Anyone have any information on this?
All Branch Topic (ABT) Those who finished dentistry but want to work in military
- Thread starter dkgrubby
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For a general dentist typically you can get a 150K accession bonus in addition to normal dental officer pay. That commits you to 4 years. If you do 10 years in the military you are eligible for loan forgiveness under the PSLF program.
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ARMY INCENTIVES: This fiscal year the Army has 2 recruiting incentives for senior dental students and practicing dentists who did not do the scholarship (see below.) There were only 10 positions available this year in the Army for active duty ("full-time"), and they filled almost immediately. If interested, start working with an Army medical recruiter now to have your application ready for next October when new job openings come up. There are still positions open in the Army Reserve ("part time"), though filling up steadily. Vellnueve is right about the PSLF for someone with $400k.
Active Duty:
Health Professions Bonus Program (HBP)
Program provides a $75,000 accession bonus. Individuals incur a 4 year active duty obligation. Bonus is paid in a lump sum at first duty station. Individuals may be eligible, if qualified, to participate in the ADHPLRP. Direct accession applicants are eligible, and dental students in their last year of dental school may apply. Note: 28% taxes are taken out of the $75K up front.
Active Duty Health Professions Loan Repayment Program (ADHPLRP)
This program will repay up to $40,000 of qualified loans to lending institutions annually for a maximum of 3 years. ADO is 1 year-for-year receiving loan repayment with a minimum period of 2 years on Active Duty. When HBP is taken in conjunction with ADHPLRP the obligation is 7 years.
Reserve:
Special Pay
Special pay provides up to $75,000 special pay for General Dentists (63A), Comprehensive Dentists (63B), Periodontists (63D), Endodontists (63E), Prosthodontists (63F), Public Health Dentists (63H) and Oral and Maxillofacial Surgeons (63N). The special pay is paid in increments of $25,000 and paid yearly up to a total of 3 years. Soldier must serve in an AR TPU, APMC or IMA Program while receiving the special pay. Individuals may be eligible, if qualified, to participate in one other reserve incentive program. Special pay may not be offered concurrently with STRAP. Residents in their last year of their residency may apply. Applicant must possess a current, valid, active and unrestricted state dental license to apply.
Health Professions Loan Repayment Program (HPLRP)
Program provides up to $250,000 for repayment of qualified education loans for General Dentists (63A), Comprehensive Dentists (63B), Periodontist (63D), Endodontist (63E), Prosthodontists (63F), Public Health Dentist (63H) and Oral and Maxillofacial Surgeons (63N). For each year of satisfactory service in an AR TPU, APMC or IMA Program, any DoD authorized student loan will be considered eligible for repayment. Payment is $40,000 per year not to exceed $250,000. Applicant may be eligible, if qualified, to participate in another AR incentive program. HPLR and STRAP may be offered at the same time. Applicant must possess a current, valid, active and unrestricted state dental license to apply.
Active Duty:
Health Professions Bonus Program (HBP)
Program provides a $75,000 accession bonus. Individuals incur a 4 year active duty obligation. Bonus is paid in a lump sum at first duty station. Individuals may be eligible, if qualified, to participate in the ADHPLRP. Direct accession applicants are eligible, and dental students in their last year of dental school may apply. Note: 28% taxes are taken out of the $75K up front.
Active Duty Health Professions Loan Repayment Program (ADHPLRP)
This program will repay up to $40,000 of qualified loans to lending institutions annually for a maximum of 3 years. ADO is 1 year-for-year receiving loan repayment with a minimum period of 2 years on Active Duty. When HBP is taken in conjunction with ADHPLRP the obligation is 7 years.
Reserve:
Special Pay
Special pay provides up to $75,000 special pay for General Dentists (63A), Comprehensive Dentists (63B), Periodontists (63D), Endodontists (63E), Prosthodontists (63F), Public Health Dentists (63H) and Oral and Maxillofacial Surgeons (63N). The special pay is paid in increments of $25,000 and paid yearly up to a total of 3 years. Soldier must serve in an AR TPU, APMC or IMA Program while receiving the special pay. Individuals may be eligible, if qualified, to participate in one other reserve incentive program. Special pay may not be offered concurrently with STRAP. Residents in their last year of their residency may apply. Applicant must possess a current, valid, active and unrestricted state dental license to apply.
Health Professions Loan Repayment Program (HPLRP)
Program provides up to $250,000 for repayment of qualified education loans for General Dentists (63A), Comprehensive Dentists (63B), Periodontist (63D), Endodontist (63E), Prosthodontists (63F), Public Health Dentist (63H) and Oral and Maxillofacial Surgeons (63N). For each year of satisfactory service in an AR TPU, APMC or IMA Program, any DoD authorized student loan will be considered eligible for repayment. Payment is $40,000 per year not to exceed $250,000. Applicant may be eligible, if qualified, to participate in another AR incentive program. HPLR and STRAP may be offered at the same time. Applicant must possess a current, valid, active and unrestricted state dental license to apply.
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Talking with recruiters, it seems spots are pretty tight and even more competitive to get than the scholarship since the scholarship students are who they depend on and all branches are downsizing. I think with Navy there is only a 20K accession bonus for general dentists but correct me if I am wrong
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The authorized accession bonus is 150K for a direct accession.
I believe the new pay structure is the critical warfare shortage accession of $150K paid over 4 years. This is in addition to the standard $20,000/year general dentists special pay. If you've got a huge amount of debt, the 10 year public loan forgiveness IBR/PAYE etc. is a pretty good idea. You won't be rich in the military but you'll live pretty comfortably.
