Comments on: Pros and Cons of military service to pay for medical / professional school- HPSP (the health professional scholarship program) http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/ everything outside of work you need to think about Fri, 08 Aug 2008 01:16:40 +0000 http://wordpress.org/?v=2.2 By: purpose of ideal body weight in the field of nursing http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-8274 purpose of ideal body weight in the field of nursing Sat, 28 Jun 2008 13:15:57 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-8274 [...] [...] […] […]

]]> By: Joseph http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-7301 Joseph Mon, 12 May 2008 02:10:57 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-7301 Hello I need advice. I'm planning on going to medical school but i also want to be associated with the military because i've been a navy brat all my life. i would like to become a heart surgeon but what route should i take or should i even take it at all? thanks Hello I need advice. I’m planning on going to medical school but i also want to be associated with the military because i’ve been a navy brat all my life. i would like to become a heart surgeon but what route should i take or should i even take it at all?
thanks

]]> By: Sarah http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-4342 Sarah Sun, 10 Feb 2008 19:19:53 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-4342 I am about to graduate with a BA in Biology and I am seriously considering the military as a way of funding my medical school. As of right now I have about $60,000 in student loans already! and I still have 1year left of college so that will put me at around $80,000. I am non-military background so this would all be new to me. The biggest incentive for me is that while in medical school I will not have to worry about having the waitressing job that I have had through all four years of college and struggle to balance work and school. I would rather put 100% of my time and concentration on being in medical school. Also during my time in medical school I WILL have to start paying off the interest at a minimum. Now as a seasoned college student I can deal with living off of ramen noodles and spagetti so having around 1,500 per month sounds good to me, just as extra cash b/c my housing etc. would be paid for. I am not sure if this is the route I will choose, but it seems like a reasonable route if you are in the situation such as mine. In reality I feel as if I would have a better chance of actually succeeding in medical school if I did choose this. Without the heavy load of student loans on my head, paying them back is more terrifying then the military. As for war, I really don't think they send doctors to battle, I mean I'm not 100% sure, but wouldn't a military doctor just be stationed at a hospital like say Ramstein(not sure of spelling) in Germany or somewhere such as that. Also Iraq will hopefully be over come next November :) I think I would be honored to actaully help those that are brave enough to go out and defend this country...and then after 7 years go off and do whatever I would like.. to me 7 years in a career is not a long time in the scale of how long people work until the retire. All in all I am going to research this topic as much as I can and I still have about 1 1/2 to my make choice. Thank you for writing this article without bias and truely explaining the details in depth. Whether I choice the military route or my own I know one thing is true... military or civilian the world will always need GOOD doctors with medical school training no matter how they get their education. Thank you. I am about to graduate with a BA in Biology and I am seriously considering the military as a way of funding my medical school. As of right now I have about $60,000 in student loans already! and I still have 1year left of college so that will put me at around $80,000. I am non-military background so this would all be new to me. The biggest incentive for me is that while in medical school I will not have to worry about having the waitressing job that I have had through all four years of college and struggle to balance work and school. I would rather put 100% of my time and concentration on being in medical school. Also during my time in medical school I WILL have to start paying off the interest at a minimum. Now as a seasoned college student I can deal with living off of ramen noodles and spagetti so having around 1,500 per month sounds good to me, just as extra cash b/c my housing etc. would be paid for. I am not sure if this is the route I will choose, but it seems like a reasonable route if you are in the situation such as mine. In reality I feel as if I would have a better chance of actually succeeding in medical school if I did choose this. Without the heavy load of student loans on my head, paying them back is more terrifying then the military. As for war, I really don’t think they send doctors to battle, I mean I’m not 100% sure, but wouldn’t a military doctor just be stationed at a hospital like say Ramstein(not sure of spelling) in Germany or somewhere such as that. Also Iraq will hopefully be over come next November :) I think I would be honored to actaully help those that are brave enough to go out and defend this country…and then after 7 years go off and do whatever I would like.. to me 7 years in a career is not a long time in the scale of how long people work until the retire. All in all I am going to research this topic as much as I can and I still have about 1 1/2 to my make choice. Thank you for writing this article without bias and truely explaining the details in depth. Whether I choice the military route or my own I know one thing is true… military or civilian the world will always need GOOD doctors with medical school training no matter how they get their education.

Thank you.

]]> By: Brian http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-3686 Brian Thu, 24 Jan 2008 03:46:08 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-3686 I am an Internist in the Navy. I make about $143,000 as a Lieutenant Commander/Major O4. (I didnt see MSP, 4 year contract IM $25K a year, FP $33K a year added to your 94K) I pay about $9,000 in taxes a year. I figure this equates to about $180,000 so I break even with most internists out there. I hope to retire in 10 years and collect retirement pay anywhere from $55,000 to $70,000. It has worked out great for me and I come from a non military background. Navy HPSP is offering a $20,000 now. I am an Internist in the Navy. I make about $143,000 as a Lieutenant Commander/Major O4. (I didnt see MSP, 4 year contract IM $25K a year, FP $33K a year added to your 94K) I pay about $9,000 in taxes a year. I figure this equates to about $180,000 so I break even with most internists out there. I hope to retire in 10 years and collect retirement pay anywhere from $55,000 to $70,000. It has worked out great for me and I come from a non military background. Navy HPSP is offering a $20,000 now.

]]> By: Jerry http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-2005 Jerry Sat, 24 Nov 2007 14:24:02 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-2005 I agree wholeheartedly with Grunt Doc, and found this summary of military medicine to be remarkably well-balanced and factual. I served as a Navy hospital corpsman with the Marine Corps, and am hoping to someday continue my service as a military physician, so a breakdown of the options (like this one) leads me to be able to make a good decision based on actual benefits (FAP money during residency, no malpractice insurance, time for payback, etc.). Thank you for an excellent synopsis! Jerry www.leads4insurance.com I agree wholeheartedly with Grunt Doc, and found this summary of military medicine to be remarkably well-balanced and factual. I served as a Navy hospital corpsman with the Marine Corps, and am hoping to someday continue my service as a military physician, so a breakdown of the options (like this one) leads me to be able to make a good decision based on actual benefits (FAP money during residency, no malpractice insurance, time for payback, etc.). Thank you for an excellent synopsis!
Jerry
www.leads4insurance.com

]]> By: Chuck McKay http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-1156 Chuck McKay Tue, 23 Oct 2007 01:36:37 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-1156 Excellent summary. Thank you. Excellent summary. Thank you.

]]> By: 911doc http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-788 911doc Thu, 27 Sep 2007 01:25:42 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-788 nice post. agree with gruntdoc. have a post up on my site for those who may want more perspective from a former military doc and HPSP guy. cheers. http://docsontheweb.blogspot.com/2007/09/what-about-military-scholarship-to.html nice post. agree with gruntdoc. have a post up on my site for those who may want more perspective from a former military doc and HPSP guy.
cheers.

http://docsontheweb.blogspot.com/2007/09/what-about-military-scholarship-to.html

]]> By: James http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-559 James Mon, 17 Sep 2007 03:26:29 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-559 An interesting posting. The major problem with military service right now is that the chances of being deployed to either Afghanstan or Iraq are exceptionally high. In fact, I think that most major army units have been to Iraq by now. With the major life and martial disruptions caused by deployment, along with the possibility of physical or mental injury, it might be best to wait until one of these wars ends. Best, James An interesting posting. The major problem with military service right now is that the chances of being deployed to either Afghanstan or Iraq are exceptionally high. In fact, I think that most major army units have been to Iraq by now.

With the major life and martial disruptions caused by deployment, along with the possibility of physical or mental injury, it might be best to wait until one of these wars ends.

Best,

James

]]> By: This Week in Review - My Favorite Personal Finance Articles | Cash Money Life http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-549 This Week in Review - My Favorite Personal Finance Articles | Cash Money Life Sat, 15 Sep 2007 19:18:45 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-549 [...] Physician: Pros and Cons of military service to pay for medical / professional school - HPSP (the Health Profes.... This is some very solid analysis about using a military scholarship to pay for your school. It [...] […] Physician: Pros and Cons of military service to pay for medical / professional school - HPSP (the Health Profes…. This is some very solid analysis about using a military scholarship to pay for your school. It […]

]]> By: Patrick http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-516 Patrick Wed, 12 Sep 2007 20:50:30 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-516 Wow, solid analysis. I am not in the medical profession, but I was in the USAF for 6 years. I know several people in the nursing and medical field, but I don't know any doctors very well. The few I have talked to stayed in the military because they loved it; not for the money. I agree with Grunt Doc's comment: Many people who serve in the military do it because that is what they choose to do, not to get rich. Still, I think your post is very beneficial for anyone considering the military as an option to pay for school. It pays to do the research - both on the financial end, as well as what military service actually entails. Wow, solid analysis. I am not in the medical profession, but I was in the USAF for 6 years. I know several people in the nursing and medical field, but I don’t know any doctors very well. The few I have talked to stayed in the military because they loved it; not for the money.

I agree with Grunt Doc’s comment: Many people who serve in the military do it because that is what they choose to do, not to get rich.

Still, I think your post is very beneficial for anyone considering the military as an option to pay for school. It pays to do the research - both on the financial end, as well as what military service actually entails.

]]> By: david http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-513 david Wed, 12 Sep 2007 03:40:55 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-513 An excellent summation of the pros and cons of using HPSP and/or FAP and/or USUHS - good job! One additional point - not necessarily financial - is that military physicians are officers in addition to being doctors, and being an officer frequently gives young docs leadership opportunities that they would not experience in the private sector (or at least not until much later in their career). Leadership can translate into better jobs and/or more fulfilling jobs and/or more interesting career opportunities in the private sector. An excellent summation of the pros and cons of using HPSP and/or FAP and/or USUHS - good job!

One additional point - not necessarily financial - is that military physicians are officers in addition to being doctors, and being an officer frequently gives young docs leadership opportunities that they would not experience in the private sector (or at least not until much later in their career). Leadership can translate into better jobs and/or more fulfilling jobs and/or more interesting career opportunities in the private sector.

]]> By: GruntDoc » Blog Archive » Pros and Cons of military service to pay for medical / professional school- HPSP (the health professional scholarship program) http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-509 GruntDoc » Blog Archive » Pros and Cons of military service to pay for medical / professional school- HPSP (the health professional scholarship program) Tue, 11 Sep 2007 18:38:44 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-509 [...] Pros and Cons of military service to pay for medical / professional school- HPSP (the health profess... In this article I want to write about the pros and cons of the military as a way of financing medical education. I may not be fully aware of the recent changes to the HPSP program but I did a fair amount of research about the topic before I ended up not going though with it. I want whoever is thinking about doing this to think seriously and give it some critical thought before signing up. [...] […] Pros and Cons of military service to pay for medical / professional school- HPSP (the health profess… In this article I want to write about the pros and cons of the military as a way of financing medical education. I may not be fully aware of the recent changes to the HPSP program but I did a fair amount of research about the topic before I ended up not going though with it. I want whoever is thinking about doing this to think seriously and give it some critical thought before signing up. […]

]]> By: GruntDoc http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-508 GruntDoc Tue, 11 Sep 2007 18:36:35 +0000 http://www.financephysician.com/2007/09/10/pros-and-cons-of-military-service-to-pay-for-medical-professional-school-hpsp-the-health-professional-scholarship-program/#comment-508 A very nice summary! As someone who went the Military doc route, that's a good, unemotional explanation of the financial pros and cons. It also very closely tracks what I tell youngsters asking me about HPSP: 'If you have a strong desire to serve your country in uniform, and want to be a doctor, you'll be happy; if you're doing it to pay for school you'll be miserable'. Strong work! A very nice summary! As someone who went the Military doc route, that’s a good, unemotional explanation of the financial pros and cons.

It also very closely tracks what I tell youngsters asking me about HPSP: ‘If you have a strong desire to serve your country in uniform, and want to be a doctor, you’ll be happy; if you’re doing it to pay for school you’ll be miserable’.

Strong work!

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