Marvin OnumonuNHS nurses might stay in their jobs for seven to 10 more years if the Government forgave their student loans, according to a report by the Royal College of Nursing (RCN).
The analysis suggested that forgiving these loans could keep more than 14,000 nurses in the NHS over a decade, helping to fill over half of the current vacancies in England.
A loan forgiveness scheme would mean nurses’ student loans are forgiven by the Government in exchange for them working in the NHS and public services for a set period after completing their degrees.
The RCN said this could ease the nurse retention crisis and improve patient care.
The report also highlighted the increase in nursing staff leaving the profession early post-pandemic.
The research found that the number of nurses leaving the Nursing and Midwifery Council register within five years rose by 67% between 2021 and 2024.
If the trend continues, 11,000 nurses could leave the profession by the end of the next parliament without spending a decade in their roles, according to RCN.
The report also detailed issues in recruitment and attrition, revealing that nursing course applications in England dropped by 35% and acceptances by 19% since 2021, with 21% of students dropping out before completion.
Among those considering quitting, 70% cited financial difficulties.
Professor Nicola Ranger, general secretary and chief executive at RCN, said: “Nursing and patients are being failed by a broken education system.
“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.”
Ranger added: “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.”
She 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.”
