Amazing...how people could think there is no market for these products. Students are one thing, but look at all these finance companies! There are people with bad credit who still pay upwards of 30% on a mortgage. There are people who buy their furniture through Rent- A- Centres for a low monthly payment where interest is huge. These Cash Stores will advance you money on your paycheque for a huge premium, repayable on your payday. I could go on and on.....
In these pressing times, not everyone has AAA credit. More people than you realize cannot make it from payday to payday without credit help, not only in the USA but here in Canada as well. I doubt many investors found here on a BB have these troubles, but there are a lot more people out there having troubled times. Selectcore et al are finding their niche market to cater to these people and kudos to them for doing it.