but since this student has done nothing with his knowledge yet, I'd say the second part of your statement is accurate.
But then again, knowledge doesn't amount to anything if you don't have a degree to back it up . It's impossible for him to do anything worthwhile with what he's learned from the lectures, unless he plans to reapply for Med school and start from scratch. If that's his plan, he should have a head start on the incoming students in a new class.