The myths surrounding nursing student loans
You've no doubt heard or read the headlines of student nurses leaving university with over £60,000 of debt .
These headlines are worrying enough but let's debunk many of the student loan myths- If you are currently at university and are worried about repaying your loan, or you are considering a career in nursing, this article and supporting documentation is written with you in mind.
With the average starting salary of a Band 5 nurse of £22,128- paying
back a 5 figure debt seems daunting – but perhaps its wise to forget about all the misleading headlines and focus in on what you, as a nurse in training, will be expected to pay back over the course of your career.
We’ve included a list of over 12 key facts about the loans you should be aware of before you embark on your nursing university journey putting you in position where you can make an informed decision if training to be a nurse is going to work for you financially. We`ll also look at the implication of how the nursing grant system could benefit you in the short term and how it could have a significant effect on your finances during your university course and throughout your nursing career. Finally, we`ll also consider those often- forgotten costs, namely ‘living costs’ which DO NOT constitute part of your student loan. We will differentiate between student loan repayment and debts accrued whilst you studied.