Underpants,
For a change, try to stop posting about things you have no idea about.
You're taxed on the cash element alone. If you do the long course, you have no tax liability. The manner in which you're taxed for the cash element is helpful; as extra monthly income each month for the 6 years. In the case of an AE cadet, about 7.6k a month.
So, make your own decisions, but don't listen to clowns like Underpants. 330k lump sum...haha