Can you afford to study medicine in Australia?

29 March 2021

You’d like to study medicine in Australia, but can you afford it? Can you afford not to?

university of queensland medical school building
Find out more about studying medicine at the University of Queensland

When we sat down in 2018 with Iqbal Jaffer, he didn’t tiptoe around the subject of finances. This University of Queensland medical school graduate and cardiac resident at McMaster University was honest and candid about his own financial journey through medical school.

“This is expensive. I’m still paying for it,” he admitted, comparing the financial obligation of medical school to taking out a mortgage. “That’s more money than any of you have seen in your life.”

Iqbal noted that this is a conversation you’ll want to have with your family and you’ll need to ask the questions like,  “Am I really committed to doing this?” and “Am I really committed to the financial burden this will instill upon me?”

Part of what makes the decision to study internationally a hard one is that it’s both a practical decision and an emotional decision. Can you financially afford to study medicine in Australia? Can your soul afford not to?

If you’re looking for advice on whether to take this financial leap, Iqbal didn’t leave you hanging. And, like any good advice on making life-altering decisions, it’s got some heart.

This is what Iqbal wants you to consider when choosing to study medicine internationally:

  • Choose medicine because you love it.
  • Keep the big picture in mind.
  • If you choose money over happiness, you will have neither; chase happiness and money will find you.

Medicine 101: Financing

Watch the video for more of Iqbal’s thoughts about financing medical school in Australia. If you’d like to watch the full webinar, please reach out to You can also visit OzTREKK’s Financing page to get more info about loans, scholarships, and living costs!

Learn more about how Iqbal found himself at the University of Queensland’s Medical School.

Study at Medicine at the University of Queensland

Are you interested in studying medicine at the University of Queensland?

Program: Doctor of Medicine (MD)
Location: Brisbane, Queensland
Semester intakes: January each year
Duration: 4 years

Start your application to the UQ Doctor of Medicine!


Would you like to learn more about becoming a UQ medical student? Contact OzTREKK’s Australian Medical Schools Admissions officer at for more info!