When does HSCP become preferable?

[kingme23]

I would appreciate some advice on the topic. It seems that the HSCP scholarship is more advantageous than the HPSP when someone goes to a "cheap" school, but how cheap are we talking? My total costs will be less than 230K for everything. Based on the E6 pay, not (quite) all of that would be covered by the scholarship but I'm not sure if the increase in pay after the 4th year would make up for that.

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[tons_of_fart]

https://sites.google.com/site/medschoolnavyhscp/about-hscp

 

[coolslugs]

Tuition and fees less than $55,000. Check on cost of living as you can save a lot there. Prior service would also be another reason to do HSCP.

 

[LFA20]

HSCP is favorable when your pay will cover tuition and living cost.

 

[dentclc]

To figure out the finances to make a comparison for your situation, and assuming you're going for a 4yr, lay out all 8 years to figure out what's better. Make sure to factor in taxes with both.

For HSCP:
Years 1-4 in school: BAH in the area of your school+ COLA if it is an eligible area + BAS + Basic Pay (note pay goes up after 2, then again after 3 years).
Years 5-8: BAS + bonus + BAH (for a base somewhere) + Basic Pay (4+ yrs).

Some factors may change, such as if you are able to recruit, your pay in school will go up to E7, or if you have dependents - spouse and/or kid your BAH goes up. But this will give a good view of the overall pay.

For HPSP:
Years 1-4 in school: Tuition/fees + Stipend + 45 days AD O1 pay per year.
Years 5-8: BAS + bonus + BAH (for the same base) + Basic Pay (0 yrs)

Then also think about HSCP will not cover the cost of loupes, boards, books, etc. In addition, I've found that there is a lot more hassle with HSCP - long drives to military installations for physicals which may require multiple visits, physical fitness tests, collegiate meetings, drug tests, weigh ins, monthly paperwork, and if you want to travel abroad while in school, a hugely painful leave application process that requires hours of trainings (among other things). Although I haven't tried to accomplish this, I've heard that doing an externship at military sites is also more complicated with HSCP than with HPSP. You do get a CAC card and can access the commissary and get military discounts on HSCP.

 

[Bis-GMA111]

crunching the numbers, hscp is better if you go to your own state school. externships can be done with either scholarship, but it is my understanding that you have to have gone to ODT prior (preferably). and with HPSP, you also get a CAC card and can access the commissary and get military discounts.

hscp becomes more valuable especially if you're prior service/you know for a fact you want to make a career out of military dentistry---you'll come out 4 years ahead in terms of active duty service.

 

[LFA20]

To figure out the finances to make a comparison for your situation, and assuming you're going for a 4yr, lay out all 8 years to figure out what's better. Make sure to factor in taxes with both.

For HSCP:
Years 1-4 in school: BAH in the area of your school+ COLA if it is an eligible area + BAS + Basic Pay (note pay goes up after 2, then again after 3 years).
Years 5-8: BAS + bonus + BAH (for a base somewhere) + Basic Pay (4+ yrs).

Some factors may change, such as if you are able to recruit, your pay in school will go up to E7, or if you have dependents - spouse and/or kid your BAH goes up. But this will give a good view of the overall pay.

For HPSP:
Years 1-4 in school: Tuition/fees + Stipend + 45 days AD O1 pay per year.
Years 5-8: BAS + bonus + BAH (for the same base) + Basic Pay (0 yrs)

Then also think about HSCP will not cover the cost of loupes, boards, books, etc. In addition, I've found that there is a lot more hassle with HSCP - long drives to military installations for physicals which may require multiple visits, physical fitness tests, collegiate meetings, drug tests, weigh ins, monthly paperwork, and if you want to travel abroad while in school, a hugely painful leave application process that requires hours of trainings (among other things). Although I haven't tried to accomplish this, I've heard that doing an externship at military sites is also more complicated with HSCP than with HPSP. You do get a CAC card and can access the commissary and get military discounts on HSCP.

what exactly did you have to do? I am planning on leaving the country this summer so how early in advance should I tell my recruiter?

 

[dentclc]

Start the process now - you'll need to do trainings that all active duty members have to do when they go overseas. The trainings last for various lengths of time (then you have to re-take them), but if you're going this summer I think the shortest one is 6 months. You'll also need to be entered into a system that allows for overseas clearance to whatever area in the world you're going to. Talk to your recruiter and if you have any specific questions PM me.

 

[lctc122]

Hi, sorry for hijacking your post but I'm new here and cannot figure out how to post a new question in the forum (probably super obvious and I just don't see it lol If you could help me out, would be much appreciated!) Anyway, my question has to do with HSCP for Healthcare Administration...I'm looking at the requirements and what are considered acceptable programs for HCA and it states that I need an acceptance letter to an AACSB-accredited Masters Program but then it went on to say that online programs are not accepted. Many programs I'm looking at for HCA are actually online programs offered by well-known universities such as Loyola or Cleveland State University, etc. Are they referring to distance-learning programs such as University of Pheonix type schools or are all online programs disqualified from this list? Just curious because there are just a lot more online programs for HCA or MBA with HCA concentration since the majority of them are catering to the professional population that are pursuing these degrees to enhance their career. If you've had experience with this, i would really appreciate some info. Thank you so much!

 

[Dentalkid20]

If I am a Texas resident and will be attending dental school in Texas, should I take the HSCP or HPSP? Tuition cost are the lowest in the country. Any thoughts?

 

[chill45]

If I am a Texas resident and will be attending dental school in Texas, should I take the HSCP or HPSP? Tuition cost are the lowest in the country. Any thoughts?

From what I read when I was applying those that are wanting to make a career in the military or those that attend Texas schools are the ones that HSCP benefit most over HPSP. It used to be about any instate school but with costs rising so much that's not necessarily the case. If you are a Texas resident going to a Texas school then HSCP is definitely the way to go though.

 

[Dentalkid20]

From what I read when I was applying those that are wanting to make a career in the military or those that attend Texas schools are the ones that HSCP benefit most over HPSP. It used to be about any instate school but with costs rising so much that's not necessarily the case. If you are a Texas resident going to a Texas school then HSCP is definitely the way to go though.

Do you say it's the way to go from a financial benefit? I don't know for sure if I want to make an entire career out of it.. Obviously the 4 year pay back, but it seems the HSCP goers get more money after dental school while in the military.. And during school my in state tuition will not be that expensive so I figured I would be more money to save

 

[USArmyHPSP]

Here is the latest pay scale. An E-6 is just about 2400/month less taxes.
http://www.militaryfactory.com/military_pay_scale.asp

So, HSCP is just about $30K/year less taxes. Tuition, fees, books and equip is on you or FASFA or some such. Just ask around how expensive dental school equipment is.

HPSP is $23K in stipend, plus a little less than $4500.00 active duty pay bringing you about $27.5K less taxes, but HPSP also picks up the tuition, fees, books and equipment. Without having to meet the grooming and physical fitness standards of an active duty enlisted person.

All my numbers are rounded, you can take the time, look at the pay scale and do the balance of loaning out dental school, or having it paid for.

 

[dentclc]

HSCP participants also get E6 BAH and BAS during school, and the four pay back years are paid with 4+ years of service, which equals out to almost another thousand a month for four years.

 

[USArmyHPSP]

Good pint, I missed that.

 

[chill45]

Do you say it's the way to go from a financial benefit? I don't know for sure if I want to make an entire career out of it.. Obviously the 4 year pay back, but it seems the HSCP goers get more money after dental school while in the military.. And during school my in state tuition will not be that expensive so I figured I would be more money to save

Yes from a financial point it would be the better option. There might be a couple threads with all the calculations but if I were you I'd break out the pencil paper and calculator and figure it all out exactly since each year the pay scale can change. The schools list all the required fees and supplies and tuition you'd have to pay for. Also there have been a couple things in our kits that we ended up not using in my D1 year, like a polishing kit, that you could probably end up selling if you are really into pinching pennies. I think we have one that was like $250 that we didn't use, I didn't sell mine but I know classmates that did. Our curing light also cost $500 in our kit but retails for $1600 so a lot of people in my class sold theirs on eBay and just bought a cheaper one. I wouldn't do that on HPSP since that is along the principles of insurance fraud lol but if you were on HSCP I don't see why they would care about that.

 

[LFA20]

I'm an hscp recipient at a state school and last year I received around $54800 from hscp. My tuition, fees, and housing cost was around $56000..

 

[navydentist]

If you have any inclination to retire from the Navy (even as a reservist), and you attend a state school, I would seriously consider HCSP. All the HCSP people I've met in the Navy are staying in. Either active duty or in the reserves. You are 12 years from retirement after payback. That's a pretty good deal.

One other factor that is overlooked, if you do HCSP, you will accrue leave during dental school. So you will enter active duty with 12o days of leave on the books!

 

[NAVY DDS 2010]

One other factor that is overlooked, if you do HCSP, you will accrue leave during dental school. So you will enter active duty with 12o days of leave on the books!

Not true. The max number of days you can roll over each fiscal year is 60 days effective this past Oct 1st. So, if you graduate in May, the max number of leave days is 80 days ( 60 + 8 months x 2.5). Also, if you travel within the US, you do not need to take leave. But, if you like to travel overseas during your breaks, you are required to take leave, so your number of days will be less.

 

[navydentist]

I know multiple people that reported with over 100 days on the books. Apparently that policy just changed this year, you are correct. Still a LOT of leave though.

 

[chompsss]

If you have any inclination to retire from the Navy (even as a reservist), and you attend a state school, I would seriously consider HCSP. All the HCSP people I've met in the Navy are staying in. Either active duty or in the reserves. You are 12 years from retirement after payback. That's a pretty good deal.

One other factor that is overlooked, if you do HCSP, you will accrue leave during dental school. So you will enter active duty with 12o days of leave on the books!

Not true. The max number of days you can roll over each fiscal year is 60 days effective this past Oct 1st. So, if you graduate in May, the max number of leave days is 80 days ( 60 + 8 months x 2.5). Also, if you travel within the US, you do not need to take leave. But, if you like to travel overseas during your breaks, you are required to take leave, so your number of days will be less.

If you graduate with 90-120 days of leave pay, can you cash that in? Or, is it something you have to actually "use" to get paid for it? That could be a huge, huge difference maker on the HSCP/HPSP debate. If you figure an E6 pay rate + BAH + BAS = about $4,500/30 days (estimated with Hartford, CT BAH rate on E6 and Enlisted BAS), then $4,500*90 days = $13,500 and $4,500*120 days = $18,000.

 

[dentclc]

I'm pretty sure you can only cash in unused leave at the end of your commitment, and at that point you only get paid out for base salary and not BAS and BAH.

 

[chompsss]

I'm pretty sure you can only cash in unused leave at the end of your commitment, and at that point you only get paid out for base salary and not BAS and BAH.

Okay, anybody else care to chime in?

 

[chompsss]

FYI - at the end of this year, only 60 days of leave can be rolled over, and it appears as though you can only "cash out" on them during discharge. Prior and up to the end of this year, you could/can roll over up to 90 days, but that's over in less than a month. So, 4 years dental school = 60 days paid leave accrual TOTAL and 60 days paid leave foregone. Plus, not to mention you'll probably forego those 60 days during the first two years of active duty repayment as well (since you'll earn 30 days each year of those first two years, and it's unlikely you'll have the chance to take those 30 days off PLUS those other 60 days that you've rolled over).

Source: http://www.military.com/benefits/military-pay/military-annual-leave.html

Sooo... essentially no paid leave benefit will be derived, to my estimations. What do others think?

 

[w4nt2baDDS]

Is there any way to have your dental school years count towards overall time spent in the military if on the HPSP? I know pay increases after the first 2 years, then increases after the 3rd year, increases after 4th year, and then again after 6 years. (see 2015: http://www.dfas.mil/militarymembers/payentitlements/military-pay-charts.html)

If I were to do BOLC before dental school is there any way I could put in some extra time during dental school to reach the equivalent 2+ years mark? I just noticed that the O-3 captain monthly pay scale jumps pretty considerably at each threshold. I read somewhere that if you can achieve 50 annual points you can have your dental school years count towards retirement... so I am wondering if it would also increase your overall years of experience / pay scale.

Is this possible?

 

[LFA20]

Is there any way to have your dental school years count towards overall time spent in the military if on the HPSP? I know pay increases after the first 2 years, then increases after the 3rd year, increases after 4th year, and then again after 6 years. (see 2015: http://www.dfas.mil/militarymembers/payentitlements/military-pay-charts.html)

If I were to do BOLC before dental school is there any way I could put in some extra time during dental school to reach the equivalent 2+ years mark? I just noticed that the O-3 captain monthly pay scale jumps pretty considerably at each threshold. I read somewhere that if you can achieve 50 annual points you can have your dental school years count towards retirement... so I am wondering if it would also increase your overall years of experience / pay scale.

Is this possible?

no

 

[Scumbag_Steve]

.

 

[LFA20]

I go to rutgers

 

[LFA20]

Roseman is a state school?

I go to rutgers

 

[Scumbag_Steve]

.

 

[USArmyHPSP]

That reminds me.

I told my ex-wife that the "N" on the Nebraska Huskers football helmet stands for knowledge - she believed me...

 

[Scumbag_Steve]

.

 

[chompsss]

Does anybody know if the four years of dental school counts towards PSLF if on the HSCP?

That's an incredible thing to consider. That would mean that only serving another 2 years after the 4 year repayment would gain you total remaining loan forgiveness. Anybody know this for sure?

 

[chompsss]

For the record, it looks as though years spent in dental school while on HSCP do NOT count for PSLF even if you're paying on a qualified plan and don't put the loans in in-school or deferred status.

In this attached document (Public Service Loan Forgiveness Employment Certification Form), on the third page, left column, next to Military Service, it says that while "Active Duty" counts, it specifically says, "...but does not include active duty for training or attendance at a service school."

I believe the second part of that is referring to the Air Force Academy, Naval Academy, etc., but I think that the "active duty for training" is where the HSCP hang-up would be for dental school. I guess it ultimately depends on how you're classified by the military - I'm willing to bet you're classified as "Active Duty - Training" or something like that. Can anybody on the HSCP (or in the know) confirm or deny this for me?

This only brings to light another question, however: would qualifying payments made while in residency (say, a 2-year AEGD in the Navy), count? Or, would they not count? <--this also depends on how you're classified by the military during that time. Does anybody know how you're classified when in residency?

https://studentaid.ed.gov/sa/sites/default/files/public-service-employment-certification-form.pdf