
New research has illustrated that government reforms to student loans will disadvantage nurses and other lower- and middle-income professionals, whilst benefitting only higher earning graduates.
The Recent Changes To Student Loans
According to analysis by consultancy firm London Economics, most nursing graduates will pay significantly more in repayments over the lifetime of their loans as a result of the most extensive changes to student loans in England for over 10 years.
Do you think that part of the reason for the reforms, which disadvantage nurses who have studied in the UK, is that the government is committed to maintaining, and possibly expanding the number of nurses recruited from overseas?
Repayment Threshold Lowered
The lower threshold at which repayments begin, and an extended repayment period of 40 years for new borrowers, will result in lower- and middle-income earners paying considerably more.
In a large percentage of cases, lower earners could actually pay more in total than higher paid graduates, due to repaying both the loans and accumulated interest over a longer time.
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Nurses.co.uk Founder
I believe people working in healthcare should be able to choose to enjoy work. That is, choose an employer who reflects their values and provides them with a sustainable career. This leads to better patient care, higher retention rates and happier working lives in this most important employment sector.
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