What are the cons of HPSP?

[markelle]

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Hey,

i know this thread is old, but i didn't want to start a new one lol

From my understanding on the website, if you take the scholarship for two years, you have to pay back two years of service?

I'm looking a private schools, and realistically not wanting to take out too many loans. 60K*4=240K. This does not even include living expenses, food, spending money, gas, etc

This HPSP could cut my debt in half. I was thinking about taking the HPSP for 3 years, and just taking out 60K in loans for my fourth year. plus with the 2000 a month i would be living pretty comfortably. Im looking at ophthalmology, dermatology, or primary care. I see my self working in a hospital, Kaiser or in a group practice. I know I do not want to open my own practice. Im young (21), no family, and i'm single. So from my perspective, do you think this would this be a good plan? I don't mind being active duty, because I am just a doctor lol. We wont be fighting in the war, I think we would be at a hospital on base. I don't see anything dangerous with that.

Please let me about your opinions on this HPSP program. I would really like to know yours before this recruiter sweet talks me tomorrow morning when I make the call.

thank you 🙂

 

[schmoob]

This is a dental thread.

But to answer your question, it's a 3 year minimum. 2 year scholarships are very rare and only in the AF as far as I know, but it's still 3 years of payback.
If i were you, I would just go for the 4 years. With the way the time repayment goes for medical, you may as well. This is especially true if you are looking at a residency over 3 years, because your payback will be identical. The only difference is that you will have $100K in loans you would need to repay.