Payday Loans for Nurses

Published: 03/01/2017 and written by Toni Hart

Payday Loans for Nurses

Nursing has been a well respected profession for many years. From Florence Nightingale to the nurses of World War Two, these people have played a key part in history, and continue to do so today. It’s no wonder that thousands of students apply for nursing courses every year. So why do we need payday loans for nurses?

Payday loans for nurses

Payday loans for nurses

Applying for a payday loan isn’t restricted to just one profession alone. Many people find themselves in need of some quick cash to see them through a financial emergency until payday. There are a number of reasons to explain why payday loans for nurses are available from direct lenders.

Based on the number of hours nurses work on a weekly basis, they are paid fairly well. A 37.5 hour week can bring in anything from £22,000 to over £40,000 – however the work is incredibly demanding and can put a lot of strain on the body, mentally and physically, according to Nursing Times. The stress and pressure of the job can lead to nurses taking time off sick to recover. A short term loan may be the solution for nurses who find themselves under financial strain due to the temporary drop in wages.

NHS Bursary cuts

In previous years, nurses could study for free on the NHS. The NHS bursary scheme covers professions such as nursing, midwifery and dentistry. But from January 2017, nurses will have to pay full tuition fees, and take out maintenance loans to get by.

As part of their course, nurses must carry out a placement in order to pass. Combined with the long hours spent studying, this leaves little time for a part time job. Payday loans for nurses may increase in popularity in the new year after the cuts come into effect.

Are there a shortage of nurses?

Thousands of students apply for nursing degrees each year, but only one in four will be accepted onto the course. While the NHS paid for nurses to study at university, they were only able to accept a limited number of students due to the cost. However, the UK health system was faced with a Catch 22 situation, as nurses were in short supply, but they couldn’t afford to fund more students.

Hospitals began to employ nurses from overseas, as this was a cheaper solution to their staff shortage. To further combat this issue, the government chose to implement the cuts to the NHS bursary.

All of these reasons can lead to payday loans for nurses gaining prominence in the UK, and quite often a short term loan can be the simplest, most convenient solution. By using a good reputable direct lender, funds can be in your account in as little as 15 minutes.