In my parent's day a loan was something to be ashamed of, to be avoided. They'd grown up through the depression. A small amount of hire purchase seemed to be just about tolerable. If you needed a mortgage or loan it was personally approved by someone at the bank who would typically try and talk you out of it.

Then banks gained sales departments, quotas and commissions. The world started accumulating selling scandals.

A bit of education does not have a chance of balancing the scale against billions of marketing. "Smoking kills", yet folks still started smoking.