Where does education and personal responsibility come into play? Just because one qualifies for a loan doesn't mean one should enter into a loan, no matter what the means of qualification. It doesn't really matter if one qualifies by some government mandate or by the lender's willingness to accept more risk, responsibility still lies with the borrower to honestly analyze whether or not they will be able to make good. In my mind, the real failure lies with our nation's inability to educate it's citizens on how to manage their own finances effectively.