Student loans are under the spotlight, with those who took out plans between 2012 and 2023 feeling the bite. Should student debt (or some of it) be forgiven?

YES: Given many workers are unlikely to pay off their loans, forgiveness would be relatively cheap

Student loan forgiveness should be considered for specific workers, particularly in the health sector. Too many doctors and nurses are dropping out of university and training. For every five nurse training places, the equivalent to only three full-time nurses join the NHS. This is a major problem for students, graduates, the NHS and the government, so bold policymaking is clearly needed. A ‘student loans forgiveness’ scheme for nurses, doctors and other health professionals must be considered as a solution to high dropout rates and to reward the contribution of clinical graduates who are struggling with the huge burden of student debt.

The policy could involve forgiving student loan debt in return for years of service – for example, 30 per cent of a student’s loan balance being written off after three years of service, 70 per cent written off after seven years and 100 per cent after 10 years. Introducing loans forgiveness would be relatively cheap to the Exchequer, given that a high proportion of healthcare staff are unlikely to pay off the full loan prior to it being written off.

Student debt is a common........

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