The nurse's time IS more important than the student's in that moment. She is legally responsible for x number of patients. The student is there to learn but has nowhere near the amount of work to get done and is not the one at the end of the day who bears the larger responsibility and liability. If the student's tardiness causes them to miss report, then they need to get into the chart and find out for themselves what is going on with their patient, or get their clinical instructor (you know, the one who is actually paid to teach them and is responsible for their learning experience) to go over the relevant information, not let their own EGO dictate that the nurse must drop what they are doing and report information that was available to the student during the SCHEDULED report time.
One of the reasons clinical instructors are so strict about student tardiness is that every student's one "life happens" multiplied by the number of students in the group is no longer just a one off. They've heard every excuse in the book, btw, and not all of them are legit.
I've seen a lot of your posts and many of them have the same theme: "I'M PAYING TUITION, so I have the right." Staff nurses aren't paid by you or the educational institution. Many of them are given no choice to take a student, and most are not paid by their facility. Students often think their presence is a help to the nurse, but that's rarely to never the case. Interesting how many of the same students come back to AN once they are nurses and say "I'm kind of embarrassed about my attitude. I had no idea how much work it is to take on a student on top of all of my other responsibilities."
Be on time or get written up. It's not like she's thrown into jail or sued for damages. It's a warning. And earned. We all had to do the same when we were nursing students, so we know what is was like. Nursing students, on the other hand, have not been nurses.