Nicely put. Loans either make you or mar you. One should think wisely what the end result of obtaining a loan will be. @smaeunabs, I love that part where you said "Enjoy now, suffer later". More like one is postponing one's suffering.
Don't let those beautiful sweet-coated mouth representatives sweet-talk you. As she rightly put, go through the loan terms and agreement word by word, letter by letter and take your time to study the terms of the loan and agreement because at the end, once you pen your signature, ignorance will never or can never be an excuse.
My sister had a bad experience of signing a loan contract without looking closely at the interest rate, which made her really broke paying for a loan that has nearly 50% interest in 6 months.
Indeed, ignorance is never an excuse. Thanks for sharing your insights @aprecious!