The U.S. Army Medical Department (AMEDD) is increasing the stipend associated with its Health Professions Scholarship Program (HPSP) to $1,992 per month, effective July 1, 2009, according to the AMEDD.
The scholarship program helps students finance their graduate medical, dental, or veterinary degrees and 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, and 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, and all graduates finish school debt-free.
"The call to serve as a healthcare 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 Col. Rafael Montagno, U.S. Army Medical Recruiting Brigade commander. "Now more than ever, it's important that students know there is financial support available to help them achieve their dreams of a healthcare career."
The scholarship is available in one-, two-, three-, and four-year increments and provides benefits during school and after graduation for those who are currently enrolled in a graduate medical, dental, or veterinary program, or those pursuing psychiatric nurse practitioner degrees or other medical service degrees, such as optometry or clinical/counseling psychology. Upon graduation and entry into active duty, AMEDD officers receive increases in salary and new opportunities for a broad range of residencies, fellowships and special pay incentives.
Acceptance of the $20,000 Critical Skills Accessions Bonus includes a four-year active duty and four-year Reserve service obligation, which can be fulfilled concurrent with service obligations related to HPSP upon completion of residency programs and becoming licensed to practice.
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