AF Nurse Accession Bonus & BLS question

Renew it now - you can't work anywhere without it anyway, and I think the AF needs it current when you get in (my card was Xeroxed at some point by them).

I was told you get 1/2 your bonus up front and the rest is given out every year after that. But in the paperwork it says 'LUMP SUM". Can anyone clarify. Thanks

The bonus is paid in a lump sum and is taxed 28% no matter what your tax bracket is. Therefore, if you receive $30,000 you can expect to pocket approx $21,000.

The loan repayment is also paid in a lump sum directly to your loan company (or companies depending on your situation). It too is taxed 28% upfront and the remainder is paid to your loan company.

As an aside, USAA offers a really awesome loan to all newly commissioned members. I can't remember what it's called right now, but I know it's not featured on their website. If you call their personal loan department they will know what it is. In short, it's a loan for $25,000 with a fixed interest rate of only 2%! That was two years ago, so the interest rate might be different now. I received the loan and used it to pay off credit card debt I accrued while in nursing school. Since it's a loan you can use it as you choose. I've known people to use it to invest, to buy a home, a car, etc.

Thanks for replying. Getting it in all one lump sum is great!

The loan through USAA is the Pre-Commissioning Loan, which you're eligible for once you're accepted through one year past your commissioning date. It's for up to $25K and the rate is stupid low - I think they told me it's 4.4%.

If your BLS has expired, I would renew it. I would not report for a military position or for COT without it. I believe it's one of the certs that they ask for on my list of stuff to have at arrival, but I won't say for sure.

The commitment for the loan plus repay has always been six years. The amounts are set by Congress and the Pentagon, and since the budget has yet to be published it may be a week or two before it's finalized.