In December 1997, the 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. Since 1997, tuition fees for first year medical students have almost tripled. The average 2003 tuition for medical students is $14,651 a 194% increase over the 1997 average tuition of $4,977 (159% when adjusted to 2003 dollars). For more information on tuition, see fact sheet.
Average First Year
Tuition - 1997-2003
University of Toronto tuition for 2003/2004 is $16,207, the highest in the country. Currently no medical school in Ontario offers tuition below $12,500.
Many graduating students can realistically expect debtloads of over $100,000. Their debt repayments are expected to begin during their residency when first year average income is $40,302.