By having this policy in place, you won't ever have to worry about going into deep debt because of having to pay for necessary repairs on the auto. (carinsurancequote.net)
The point here being that nearly every student is in deep debt at the end of college and has no tangible assets that can be seized. (politics.stackexchange.com)
On the other edge it can lead to deeper debt problems for people with bad credit. (debtfirms.com)