There is hereby created an Education Loan Program for the purpose of assisting qualified students to pursue schooling beyond the secondary level. It is the intention of the Legislature in establishing the Education Loan Program under this subchapter to serve Vermont resident students and their families throughout their educational careers; and to serve nonresident students attending Vermont postsecondary institutions and the families of those students throughout their educational careers. It is also the intention of the Legislature that education loans made under this subchapter not be collateralized at the time of their origination. (Added 1965, No. 198, § 7(a); amended 2003, No. 86 (Adj. Sess.), § 23.)