Usmle to Residency: A Financial Overview

Abstract

For International Medical Graduates (IMGs) seeking medical residency, the US offers an excellent platform. The candidate must successfully pass Step 1 and Step 2 of the United States Medical Licensing Examination (USMLE), pass Occupational English Test (OET), gain valuable United States Clinical Experience (USCE), and participate in the National Resident Matching Program (NRMP). The costs involved throughout the process can be quite daunting; therefore, careful financial budgeting is recommended.

In this article, we go over the costs associated with the various stages of the journey, such as registration with the Educational Commission for Foreign Medical Graduates (ECFMG), examinations, USCE, the Electronic Residency Application Service (ERAS) season, and finally, visa processing.

The United States of America provides excellent training opportunities for medical graduates from all around the globe, and each year, thousands of International Medical Graduates (IMGs) apply for the residency match. To be eligible to apply for the match, all IMGs must pass Step 1 and Step 2 of the United States Medical Licensing Examination (USMLE) and satisfy all the prerequisites. While it is necessary to study diligently for examinations, another matter is equally important in the hierarchy: financial budgeting. Financial considerations are sometimes underestimated when preparing for the USMLE because the exams' well-known competitive nature draws more attention. However, if resources are not adequately budgeted and planned, expenses incurred throughout the USMLE journey can be overwhelming.