[econ102fail]

(1) You cannot use a UK high street bank to finance a US student loan

(2) 1000 GBP or even 3000 GBP is not nearly enough to pay for college

Students which are likely to use this type of financing are very much in the same category as an unemployed person with uncertain future prospects and neither a work history nor any assets. They don't have any assets or income, otherwise they would not borrow on these terms. They are unemployed and will not be employed for an undetermined period, possibly years. They are more likely than not to be too young to have any real work history.

Obviously they are different from the long term unemployed, disabled or veterans, but neither was I claiming that.