Extending a mortgage isn't that crazy, because you're going off the home value in addition to the repayment ability of the borrower. With student loans there's

Extending a mortgage isn't that crazy, because you're going off the home value in addition to the repayment ability of the borrower. With student loans there's no collateral so everything rests with the borrowers ability to repay. Student loans are a wild financial product when you stop to think about it, a loan with no collateral, given to someone who often times has no credit, and enforced through it not being dischargeable in bankruptcy.