proposed Federal Loan Policy changes Threaten Medical Workforce Pipeline
WASHINGTON – A potential shift in federal loan policy could limit funding for students pursuing degrees in nursing and other medical fields, sparking concerns about exacerbating existing healthcare shortages, according to statements released this week by leading professional organizations. The proposed changes, which involve capping loan amounts, could disproportionately impact access to education for those entering critical healthcare professions.
The American Nurses Association (ANA) warned the policy could “undermine efforts underway to grow and sustain the nursing workforce.” Depending on the institution-public or private-the annual cost of an associate’s degree in nursing ranges from $11,950 to $33,160, while a bachelor’s degree in nursing can cost between $22,390 and $52,850, according to NurseJournal.
“Nurses make up the largest segment of the healthcare workforce and the backbone of our nation’s health system,” said Jennifer Mensik Kennedy, president of the ANA, in a press release. ”At a time when healthcare in our country faces a historic nurse shortage and rising demands, limiting nurses’ access to funding for graduate education threatens the very foundation of patient care.”
The potential impact extends beyond nursing. The association of American Universities (AAU) cautioned that the loan caps could worsen a nationwide shortage of physicians. Fewer physician assistants, nurse practitioners, and audiologists could also enter the field consequently of reduced funding access.
The AAU further noted that students in medicine and other high-demand professional fields demonstrate lower loan default rates compared to other graduates, suggesting the risk associated with providing them loans is comparatively lower.
While the full effects of the proposed changes may not be immediately apparent, experts predict patients could face increased difficulty accessing medical treatment in the future.
