Because the thinking was that by allowing access to higher education to less well-off students, you could end or reduce the classism and perpetuation of same.<p>A loan for which no collateral can ever be repossessed necessarily has a different economic profile than a personal loan and even moreso than a real property loan.<p>Absent those protections, you would see a very different (read: people who need loans won&#x27;t qualify) student lending market.<p>Whether that&#x27;s good or bad is a matter of which there will be a variety of opinions.