This answer is a response to JTP's answer.
First, I agree that the question should not be closed or protected. The question is undoubtedly on-topic. And anything that could be construed as unkind was edited out of the question (not by a mod) less than 5 minutes from posting. So there really isn't a problem there, either.
I disagree with your assertion that this is not a good question. You insinuate that the question was too easy, that it only took you a moment to find the answer, but in fact, it is not obvious to everyone, and this is evidenced by the fact that an incorrect answer was posted before mine. You also call the question "unanswerable," which is also not true. Informing the OP that private loans do not have standard terms is indeed exactly the answer she needed. Remember that people post questions that they don't know the answer to. When a question is asked with a mistaken premise, that does not make it a bad question, and it does not make it unanswerable. The correct answer is to correct the premise and teach the OP something new. The OP apparently found my answer helpful, because she accepted it.
Now, let's talk about the HNQ. The HNQ is a way for our site to be promoted across the Stack Exchange network. Our site is not the most popular site on Stack Exchange, and by having links to questions on the HNQ, it brings new attention and participation to our site. Isn't that a good thing? It doesn't really even matter what the question is that is being linked. A user on Stack Overflow will read the title and find it interesting, and click on it, bringing them to our site. Then they read the question and perhaps learn something new, and perhaps see what else is on our site.
That is exactly the kind of free publicity we need. We should celebrate every time one of our questions trends, and it doesn't really matter what the question is. It costs us nothing.
When you manually remove a question from the HNQ, it does absolutely nothing positive for our site. You say you don't want to promote that question, but it's not like that means that another one of our questions that you do like will automatically appear. Trending happens organically and is out of our control. If you remove us from the HNQ, a question from a different site will appear in its place.
I can imagine a scenario where a particular question might need to be removed from the HNQ, but it would be very rare. We've talked about potentially removing "sugar daddy" questions from the HNQ as those could be seen as inappropriate when seen out of context on other sites. Maybe there would be some question in the future that would be an embarrassment to our site for some reason, and for whatever reason it could not be closed. But just you not liking a question is not enough, in my opinion, to sabotage this avenue of promotion of our site as a whole.
In my opinion, mods should not be attempting to use their power to remove questions from the HNQ to try to manipulate what gets promoted on the site. It is not possible; a mod cannot choose what will be popular, and removing something from the HNQ that is not causing a legitimate problem hurts the site.