Forgive student nurse loans to boost recruitment and retention, RCN says

Nurses would stay working for the NHS for up to a decade longer if their student loans were forgiven by the Government, new analysis claims.

It comes as the Royal College of Nursing (RCN) warned that the “prospect of huge debt” is putting people off joining the profession.

Researchers from London Economics, commissioned by the RCN, asked newly qualified nurses about the factors that would influence their choice to continue in the profession.

The analysis found that on average, those with student loans were willing to commit seven to 10 more years in a role that offers loan forgiveness.

The RCN is now calling for newly qualified nurses to have part of their student loans written off in exchange for working in the NHS for a set period.

Under the model, nurses working in the health service would have 30% of their loan written off after three years, with 70% forgiven after seven years and the full loan written off after a decade.

The college claims the model “would benefit recruitment” as well as bolstering retention.

According to the RCN, applications to nursing courses in England have dropped by 35% since 2021, with a 19% fall in acceptances.

More than one in five (21%) nursing students also drop out before the course is finished.

From 2025/26, nursing degrees will cost students £9,535 a year.

Bursaries for student nurses and midwives were scrapped in 2016.

“The prospect of huge debt continues to put off the nurses of the future, whilst those that do enter the profession are given little reason to stay in their jobs.

“This results in too few nurses in our services and falling standards of care for patients, with the most vulnerable suffering the most.

“A loan forgiveness model for those who commit to working in the NHS and public services would make nursing a much more attractive career, boosting recruitment and retention.

“There is a clear economic case for this policy, providing great value for money to both the taxpayer and our public services.

“The Government must give it serious consideration if it wants to transform patient care.”

The analysis, published in a new report by the RCN entitled Fixing the Leaking Pipeline, estimates the economic value of retaining more nursing staff would be worth the equivalent of £1.16 billion a year.

Publication of the report comes after Prime Minister Sir Keir Starmer announced NHS England would be axed, with the arm’s length body reintegrated into the Department of Health and Social Care over the coming years.

Prof Ranger said: “Last week, ministers announced they will take direct control of the health service.

“They must now apply the same logic by undoing failed nurse education reforms and investing in the future supply of the highly skilled nursing professionals our services desperately need.

“Nursing is an incredible career but we cannot afford to watch thousands walk away from the profession and for student numbers to collapse further.”