Why we need you
In December 1997, the Ontario government announced the deregulation of tuition fees for specific undergraduate professional programs, including medicine.
As a result of this deregulation, medical students are struggling with unprecedented financial challenges.
With tuition costs rising nearly three times as fast as students’ expected future earnings, many graduating students can expect debt loads anywhere from $100,000 to $160,000. Based on first year residency incomes, a new graduate can expect to pay more than half of their disposable income for debt repayment alone.
These rising costs raise some serious concerns that access to medical education will be restricted solely on the basis of personal financial resources. High debt loads may discourage capable and qualified students – particularly those from modest financial backgrounds – from applying to medical school at all.
We need individuals from different socio-economic, cultural, rural and urban backgrounds to serve an equally diverse population of patients.
Without the support of their future colleagues, students will be graduating with crippling debt, and making decisions on their future (including choice of specialty and location of practice), based on their financial needs.