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U.S. Army Increases Medical and Dental School Benefits
Date:6/22/2009

Health Professions Scholarship Program (HPSP) Supports Students Pursuing Medical Careers with Higher Monthly Stipend

FORT KNOX, Ky., June 22 /PRNewswire/ -- The U.S. Army Medical Department announced today that it is increasing the stipend associated with its Health Professions Scholarship Program (HPSP) to $1,992 per month, effective July 1, 2009. Through this economic downturn, many medical and dental students are faced with anxiety about taking out student loans to finance their education, especially knowing that the average medical school student loan debt is $150,000 after graduation(i).

The United States Army Medical Department (AMEDD) through its F. Edward Hebert Armed Forces Health Professions Scholarship Program (HPSP) helps students to finance their graduate medical, dental or veterinary degrees, as well as select nursing degrees or certain degrees within the Medical Service Corps by providing students with the full cost of tuition; school related fees and books; as well as a stipend of $1,992 per month throughout the school year. In addition, HPSP recipients in the Medical Corps and Dental Corps are eligible for a one-time $20,000 (less tax) sign-on bonus.

"The call to serve as a health care professional is vital to the health of our nation and our Army, but we continue to face shortages of qualified medical professionals in both the civilian and military world," said Colonel Rafael Montagno, commander U.S. Army Medical Recruiting Brigade. "Now more than ever, it's important that students know there is financial support available to help them achieve their dreams of a health care career."

For many students seeking a valuable career in health care, qualifying for loans and student loan debt is a serious issue preventing them from pursuing advanced degrees. According to a 2007 study by the American Association of Medical Colleges, physicians who are on a standard 10-year loan repaym
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SOURCE U.S. Army Medical Department (AMEDD)
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