NerdWallet: For expats, paying debt has extra challenges

This article is reprinted by permission from NerdWallet.

A close friend recently told me: “If I’d waited two years, my education would have cost half as much.”

Not because she would have chosen a different graduate program or qualified for more scholarships. But because the value of the local currency dropped.

She’s an American expat who works in Cape Town, South Africa, and is paid in rand USDZAR, +0.3356% . The exchange rate was 7 rand to 1 U.S. dollar when she took out federal student loans to pay for a master’s program, but it later fell to 14 rand to the dollar.

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