This site is intended for healthcare professionals only

Nursing graduates will be hit by proposed loan repayment changes

Written by: | Published:

Nursing graduates will be hit by proposed loan rep Nursing graduates will be hit by proposed loan repayment changes

Nursing graduates will be among those most affected by plans to lower the student loan repayment threshold, the RCN has said.

The government is consulting on proposals to lower the student loan repayment threshold to £25,000 and increase the repayment period from 30 to 40 years.

The changes mean many students in England will be paying for their degrees well into retirement. Graduates will also be asked to start paying off their debt sooner under government plans to cut the repayment threshold from £27,295 to £25,000 for new borrowers starting courses from September 2023 and will last an extra 10 years than currently. This could see many graduates paying for their degree into their 60s. The current starting salary for a Band 5 NHS nurse is £25,655 per year.

Read more: Government not serious about ending staff shortages

‘This is a blow for anyone wishing to enter the nursing profession,’ said RCN Director for England Patricia Marquis.

‘Nursing is a highly-skilled, rewarding and demanding career, but this news could appear a deterrent for many for whom paying off a student loan for the majority of their working life is just not feasible.’

Last month a UCAS report revealed that the number of 18-year-olds choosing to study nursing has increased by 38% since 2019. However, the figures are less impressive, the RCN say, when compared to the number of nursing degree applicants in 2016, when the bursary was last available to financially support student nurses. The current boost in numbers doesn't make up for the significant drop off in applicants after this time.

Read more: New taskforce to boost maternity care

‘With thousands of nursing vacancies in the NHS in England alone, the government needs to really think about how these plans will impact newly registered nursing staff and implement plans to incentivise student nurses, not deter them, as part of boosting the workforce,’ added Ms Marquis.

What do you think? Leave a comment below or tweet your views to @IndyNurseMag

This material is protected by MA Healthcare Ltd copyright.
See Terms and Conditions.

Comments

Name
 
Email
 
Comments
 

Please view our Terms and Conditions before leaving a comment.

Change the CAPTCHA codeSpeak the CAPTCHA code
 

Read a free issue from Practice Nursing

Register to read a free issue from our sister publication, Practice Nursing.

Including articles on asthma, diabetes and more. Read your copy.

Newsletter

Sign up to the newsletter

About

Independent Nurse is the professional resource for primary care and community nurses, providing clinical articles for practice nurses and prescribers.

Newsletter

Subscribe to our newsletter and stay up to date with the latest nursing news.

Stay Connected

Stay social with Independent Nurse by following us on Twitter, liking us on Facebook or connecting on LinkedIn.

Archive

Need access to some of our older articles? You can view our archive, or alternatively contact us.

Contact Us

MA Healthcare Ltd.
St Jude's Church, Dulwich Road
London, SE24 0PB

Tel: +44 (0)20 7738 5454
Registered in England and Wales No. 01878373

Meet the team

Authors

Find out how to contribute to Independent Nurse here.