Frequently Asked Questions
About Clinic to Capital
Who runs Clinic to Capital?
Clinic to Capital is run by Akeel and Tanay, two medical students who grew up in Toronto and started a six-year direct-entry medical programme in Ireland at 18. The site shares what they are learning about money, careers and the route back to practising in North America. More on our About page.
Are you financial advisors?
No. We are medical students, not licensed financial, tax, legal or immigration advisors. Everything on the site is for informational purposes only. For decisions about your own situation, speak with a certified financial planner, accountant or the relevant official body.
Is any of your content or resource list sponsored?
No. Nothing on our Resources page is sponsored, and we take no payment for placement.
How do you keep fees, deadlines and figures accurate?
We check fees and dates against official sources such as CaRMS, the MCC, ECFMG, the NRMP and the CRA, and note when each figure was last checked. Fees and deadlines change, so always confirm on the official page before you rely on a number.
Who is this site for?
Medical students, residents and early-career physicians, with a particular focus on Canadians studying medicine abroad who plan to return to Canada or match in the United States.
How can I suggest a topic or report something that is out of date?
Use our Contact page. We welcome topic requests and corrections, and we update articles when something has changed.
Studying Medicine Abroad (Ireland)
How much does medical school in Ireland cost for a Canadian?
Non-EU tuition at Irish medical schools currently runs from about €55,000 to €61,000 per year, with graduate entry around €62,500. Across a five- or six-year programme, tuition alone totals roughly €300,000 to €370,000 before living costs.
What is the Atlantic Bridge Program?
Atlantic Bridge is the admissions route Canadians use to apply to Irish health-science schools. For 2027 entry the completion deadline is 31 March 2027. Enrolment deposits typically range from €2,000 to €10,000.
What are living costs like for a medical student in Ireland?
Our Atlantic Bridge guide estimates living costs of about €28,000 per academic year. Rent varies significantly by city, and non-EU students also pay for immigration registration, private health insurance, flights and currency conversion.
What hidden costs come with studying medicine abroad?
Beyond tuition and rent, budget for flights, insurance, registration, equipment, currency conversion, licensing exams, electives back home and the cost of applying to residency.
Can I still come back to Canada to practise if I study in Ireland?
Yes, through routes such as the CaRMS R-1 match, the MCCQE Part 1 and NAC exams, provincial IMG streams and practice-ready assessment. Each route has its own requirements, so plan early.
Paying for Medical School Abroad
Can I still get Canada Student Loans for medical school abroad?
From 1 August 2026, federal grants and loans are no longer available to students attending private, for-profit institutions outside Canada. Students already receiving aid for their current programme at the same school may be covered by a transition provision until 31 July 2029. Check your school’s classification with your provincial student aid office.
Can I use OSAP for medical school abroad?
Only if your school is on Ontario’s approved list. If it isn’t, approval can take six to eight weeks after the paperwork is submitted. The federal change of 1 August 2026 may also affect eligibility for private, for-profit international schools.
Can Canadians studying abroad get a professional student line of credit?
Typically, yes, but usually with a co-signer and often at a lower limit than domestic students. Professional lines of credit for medical students can run up to around $400,000, and each bank interprets foreign schools differently.
How much debt do doctors graduate with?
It depends on tuition, living costs and family support. For Canadians abroad, Irish tuition alone can exceed €300,000 over a programme, and professional lines of credit can reach roughly $400,000. Interest keeps growing during residency.
Returning Home: CaRMS & Canadian Residency
When is the CaRMS 2027 application deadline?
The CaRMS application for the 2027 R-1 match closes on 26 November 2026 at noon Eastern. Referees must submit references by 25 November at 9 p.m. Eastern.
What are the CaRMS match rates for Canadians studying abroad?
In the 2026 first iteration, 80.6% of current-year IMG graduates matched compared with 47.8% of earlier graduates. A total of 931 IMGs matched in 2026, up from 851 in 2025.
What does the MCCQE Part 1 cost?
The MCCQE Part 1 application is $1,500. A physiciansapply.ca account costs a one-time $150, and source verification is $232 per credential.
How much does it cost to apply to residency in Canada as an IMG?
Confirmed Canadian-side fees for one credential and four programmes total about CAD $5,640 before taxes, including the MCCQE, the NAC exam, credential verification and the CaRMS participation fee. Each additional CaRMS programme costs $66.26.
What is Ontario's Return of Service agreement for IMGs?
IMGs who match to Ontario IMG positions commit to practising in an eligible community for a set period. Signed agreements must be returned before 1 July of the match year, and Ontario also requires a pre-residency programme and an assessment verification period of normally twelve weeks.
Matching in the United States
Should I take the USMLE, the MCCQE or both?
It depends on whether you want to keep the US route open. Taking both adds cost and study time, but it widens your options. Our guide compares the two paths for Canadians studying abroad.
What is ECFMG certification and how much does it cost?
ECFMG certification is required for IMGs to enter US residency. Confirmed ECFMG-side fees total about USD $1,930 before exam fees: $580 for certification, $945 for a pathway application, $220 for credential verification and $185 for the ERAS token. There is no shortcut for Canadians.
What is the ECFMG seven-year rule?
You must meet the examination requirements within seven years, counted from the date of the first exam you pass.
What are the key NRMP 2027 Match dates?
Registration opened 15 September 2026, the rank order list deadline is 3 March 2027 at 9 p.m. Eastern, and Match Day is 19 March 2027. In 2026, 56.4% of non-US IMGs matched.
When does the 2027 ERAS season open and close?
The 2027 ERAS season opened 4 June 2026 and closes 31 May 2027 at 5 p.m. Eastern. Programmes began reviewing applications on 23 September 2026.
Can I apply to CaRMS and the NRMP in the same year?
Yes, but the timelines interact: a CaRMS match withdraws you from the NRMP. Plan around both sets of exam deadlines and budget for two application systems.
J-1 or H-1B: which visa do Canadians need for US residency?
The J-1 is sponsored by ECFMG and carries a two-year home-country requirement, while the H-1B is sponsored by the hospital and often requires USMLE Step 3. Ask each programme about its sponsorship policy, and take case-specific questions to an immigration attorney. |
Taxes Across Borders
Do I stay a Canadian tax resident while studying abroad?
It depends on your residential ties to Canada. The CRA weighs ties such as a home, spouse or dependants in Canada, and the 183-day rule can apply. You can request an official determination using Form NR73.
How are Canadians doing residency in the US taxed?
The IRS uses the substantial presence test (at least 31 days in the current year and 183 days over a three-year period). Forms 8843 and 8840 and your CRA residential ties also matter. Speak with a cross-border tax professional about your own case.
Money Basics for Medical Students
How do I budget on a student loan disbursement?
Divide each disbursement across the months it must cover. For example, $15,000 per semester over six months gives $2,500 a month. Then assign essentials, flexible spending and a buffer.
Do medical students need an emergency fund?
Yes. Even €500 or $500 helps, and a realistic target is one month of core expenses, kept in a separate, easy-to-access savings account rather than on a credit card.
Should medical students use credit cards?
One no-fee card paid in full every month builds credit history. Carrying a balance is costly: at around 20% interest, a $3,000 balance costs about $600 a year.
Should I invest as a medical student?
Investing borrowed money rarely makes sense. Build an emergency fund and clear high-interest debt first, then consider low-cost index funds once you have real surplus income.
What is a TFSA, and should medical students use one?
The TFSA, RRSP and FHSA are the three Canadian accounts that matter most. Our beginner’s guide explains when each makes sense and why low-cost index funds beat high-fee products.
What are realistic side hustles for medical students?
Tutoring ($20–$50 per hour), freelance medical writing ($25–$50 per hour) and research assistant work ($15–$25 per hour) are common options, though they aren’t feasible during heavy study blocks.
Residency & Early-Career Finances
How much do residents earn in Canada vs the US?
PGY-1 pay is set provincially. Examples include Ontario at about $73,367 and Alberta at $67,440. Currency, taxes and living costs change the comparison with US salaries.
How much should doctors save?
Common targets are 10–15% of income for residents and 20–25% of gross income for attendings. The rule of 25 estimates your retirement number: annual spending × 25.
How can residents start investing?
Capture any employer retirement match first, prioritise paying down loans with interest above roughly 7–8%, and use low-cost index or target-date funds.
What is lifestyle inflation and why do doctors struggle with it?
Lifestyle inflation is spending that rises with income. It hits doctors hard because pay can jump from roughly $60,000–$70,000 in residency to $200,000+ as an attending. Living like a resident for two to three years is a common safeguard.