RCN proposes loan forgiveness to attract nurses in England

The Royal College of Nursing (RCN) is calling on the UK government to forgive student loans for nursing graduates in an effort to increase recruitment and retention in the NHS. A study by London Economics showed that newly qualified nurses are more likely to stay in their roles for an additional seven to ten years if a portion of their student loans is forgiven. Currently, many new nurses are deterred from entering the field due to the burden of debt. The RCN suggests a model where nurses could have 30% of their loans written off after three years of service, 70% after seven years, and full forgiveness after ten years. This would make nursing a more appealing career choice. The RCN has highlighted a significant drop in nursing course applications in England, with a 35% decrease since 2021. Additionally, the report states that 21% of nursing students drop out before completing their courses. Starting in 2025/26, nursing degrees will cost students £9,535 per year, which adds to their financial burden. Professor Nicola Ranger, general secretary of the RCN, emphasized that the current education system for nursing is failing both students and patients. She stated that if the government wants to improve patient care, it should consider the proposed loan forgiveness plan. The economic value of keeping more nurses in the profession is estimated at £1.16 billion annually, according to the RCN report. The report release follows Prime Minister Sir Keir Starmer’s announcement to restructure the NHS, merging it back into the Department of Health and Social Care. Professor Ranger urged ministers to invest in nursing education and support to prevent further declines in nursing numbers.