A lot of people have already responded, but I wanted to throw my two cents in because I'm speaking from experience, not from what I've seen in movies or heard about from other people. ALL THE STUFF I SAY HERE IS FROM MY OWN EXPERIENCES IN THE ARMY. YOUR EXPERIENCES MIGHT HAVE BEEN DIFFERENT, I UNDERSTAND THIS:
First off, I want to affirm what MinionJoe said above: recruiters have quotas to meet and they will say whatever they need to in order to get you to sign up. They'll offer you whatever job you want, they'll make all sorts of promises they can't back up. Be skeptical when dealing with them, and if possible know what job (MOS) you want and don't sign unless it's in your contract (and even then, cross your fingers). And since you're motivated by money, let me tell you that different jobs have different bonuses attached to them; my MOS was 25U and by entering as an E3 I got a $16,000 bonus. BUT THIS WAS IN 2007, WHEN RECRUITMENT LEVELS WERE LOW! Recruitment is not a major issue right now because we're not in Iraq (technically) and we're close to exiting Afghanistan. The military doesn't need more soldiers, so they don't need to incentivize enlistment.
Second, DO NOT DO THIS FOR MONEY! The military is not a jackpot, it is not a gold mine. All that money America spends on defense? It's not going to the paychecks of the enlisted rank-and-file. When I enlisted I was working 40 hours a week at Kinko's, making 10 dollars an hour starting and close to 11 after my first year there (I was living in San Francisco, however, so it's not like I was getting ready to buy a house). When I enlisted, I was making roughly the same amount of money. Only I wasn't working 40 hours a week; I have no clue where that poster who said "It's basically just an 8 to 5 job" was coming from, but they're dead wrong.
For starters, there's PT. Every weekday morning you need to be at formation at 6AM (at my base, at least) for the flag raising and physical training. Then in the office at 9 and through to 5, with lunch. But then there's training exercises, where you can be out in the field for a week or two running exercises and sleeping in tents, away from home. Or there's staff duty, where you get to spend 24 hours sitting at a desk, answering the phone. Yes, you get the 24 hours immediately after that off from duty, but sucks to be you if you're scheduled on Friday or Saturday. And if you want a vacation it's not as simple as filing some paperwork. You need to get your time off request approved by your commander. Same thing with sick days; you can't just call in when you're feeling like s**t. You need to get a medic to sign off that yes, you are in fact sick. It's part of the whole 'You need approval for everything' mindset.
And then there's the big one: deployments.
I deployed once, to Iraq, and let me maybe relieve you of some preconceptions you might have. For one, not every soldier is a combat troop going out on patrols and kicking in doors. I was what is known as a 'Fobbit.' I stayed on the base my unit was stationed at the entire year, going outside the wire a grand total of three (3) times, and not once did I ever have to fire my weapon or was I fired upon. For context, this was 2008.
It still sucked being in Baghdad, away from home, with shitty internet service. But I was fortunate (relatively) that my FOB had showers, toilets, a PX, a swimming pool, internet access, and regular mail service. And we were sleeping in actual buildings (the former Iraqi Ministry of Intelligence, if I remember correctly), on beds with mattresses. If we were to go into Iran or Syria in the near future (never mind the actual probability of this) and you're part of the initial forces you won't have it so lucky. MREs (see if you can buy a few from a military surplus store to get an idea of what they're like), no showers, bare cots, tents, no internet. How well can you get by without that stuff? Just take a moment to think about it.
Personally, I wish I had joined the Navy. I have an affinity for the ocean (being landlocked my entire enlistment was a problem I did not foresee when I enlisted) and I could have traveled and seen more of the world than just Baghdad. And I wish I had tried to get a commission instead of going into the enlisted ranks because with my college degree (which was being finalized when I enlisted) and my test scores (99 ASVAB, 138 GT) that was apparently an option. Not one my recruiter told me, because as I said above, they don't see you as a person.
Or actually, I wish I had never enlisted, because if I had stayed at Kinko's I would be making far more now than I actually am, working retail because the economy sucks and I didn't pick up any skills or special training in the military that are applicable in the civilian world.
But that's my experience.
And I guess I should say something about the psychological side of it. Yeah, drill sergeants tear you down and treat you like s**t. No surprise there. But once you get out and get to your duty station, it's a crap shoot. Some people are chill, some people are uptight, some people will rub you the wrong way and some people you'll be able to hang with. Like all work environments it's a mix, only here you can't quit if you get fed up.
I'd like to say I matured during my enlistment, but this was in my mid-to-late 20's, so it could have just been that. The 18-20 year olds weren't transformed from lazy, shiftless teens into square-jawed men. There were still plenty of immature, malingering jackasses everywhere.
So that's my experience. Based on what you've said, OP, I would say this is not for you. It wasn't really for me, but at least I wasn't trying to pay off any debts with it, so my disappointment wasn't as bad as I expect yours would be. I wish you luck finding a better solution to your debt, but I have to say don't expect a single lucky break to fix everything. As much as it suck, you'll probably have to be chipping away at this for years to come. Sorry.