Loans are terrible because they put huge burden on people who didn't succeed (or haven't succeeded) yet. What you want is a loan which is only paid back when yo

Loans are terrible because they put huge burden on people who didn't succeed (or haven't succeeded) yet. What you want is a loan which is only paid back when you succeed... but wait then you will have many defaulted loans then so you need to collect more on successful ones... but then people who are just barely successful are still under big burden... what to do... I know! We can try a progressive scale: the more successful you are the more you pay, you are well off anyway. This surely looks like it's going to work... let's try such loans in case people got ill as well or if they don't have anything to eat or if they want to acquire education at young age or if they failed for w/e other reason and need a loan like that to have another chance. Sounds great, let's do it... After many years of implementing our idea we see problems: the people who benefited from our loans don't want to pay them back! They claim they didn't need the loans in the first place (they are so small % of their net worth now.. surely didn't matter much) anyway so they want to cut subsequent loans as well... worse yet they acquired a lot of money and then power and influence so people who need those loans can't do much about it. Worse yet: the people who don't want to pay the loans back want to be the one managing them so they can pressure people who didn't succeed... You surely don't want that... imagine a country like that.