It's true. Also, the UK has never repaid its WW1 debt to the US.
The US joined WW1 when it became clear that the UK would not be able to repay its debt to JP Morgan and its clients if Germany won. Of course, that was not the only reason, but it was a huge factor. (Source: Adam Tooze, The Deluge)
(London had, bizarrely, decided to bankroll the Russian and French war efforts in addition to its own, so its debts were vast.)
The US joined WW1 when it became clear that the UK would not be able to repay its debt to JP Morgan and its clients if Germany won. Of course, that was not the only reason, but it was a huge factor. (Source: Adam Tooze, The Deluge)
(London had, bizarrely, decided to bankroll the Russian and French war efforts in addition to its own, so its debts were vast.)