Nurses: Training
(asked on 26th November 2015) - View Source
Question to the Department of Health and Social Care:
To ask the Secretary of State for Health, what estimate he has made of how long it would take on average for a nurse to pay off a student loan.
This question was answered on 1st December 2015
No estimate has been made as this will vary between individuals and is dependent upon a number of factors. Currently student loans are paid back over a maximum 30 year period and repayment is contingent on earnings. Graduates do not begin to pay back their loans until the April after they graduate, and then only 9% of their earnings over £21,000 per year.
If their income drops below £21,000 for any reason (part-time working, career break) their repayments cease.