What is PGY?
PGY (Postgraduate Year) is the numbering system for medical training in Australia — PGY1 is your intern year, PGY2 is residency, PGY3 onwards typically includes registrar years. Training continues until Fellowship, usually PGY5+.
Why it matters for you
Lenders with medico policy look at your PGY stage to understand your current income and career trajectory. PGY3+ often opens access to future-income lending. PGY1–2 (intern/resident) may still qualify for LMI waiver and HECS exclusion, but borrowing capacity is more constrained. Worth revisiting your loan at each major career milestone.
Last updated: April 2026