Sure they do. But they also make all of their money through lending. See a conflict of interest? Have you ever noticed that banks own the tallest buildings in the city and have nicer furniture than you?
But Chris, they are offering to consolidate all of my loans, with a lower interest rate. And it’s a lower payment than I have right now.
Let’s pause for a moment. So your answer to get out of debt is to borrow money. Where’s the part of you getting out of debt again? Oh that’s right, you still have the debt.
Banks are not your friends. Banks exist to make money. At your expense.
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