Author Topic: Options for earners in Canada paying off US student debt?  (Read 989 times)

sheepstache

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Options for earners in Canada paying off US student debt?
« on: August 05, 2015, 09:46:44 AM »
I have friends who have moved to Canada and are working there for a Canadian university and are cringing at the exchange rate when they pay off US student loans. I feel like there might be some way to optimize the situation that one of the clever people here could suggest. Thoughts?

The employment probably isn't lifelong, but they have discussed committing to living in Canada for at least 7 years and declaring bankruptcy in the US :) But it seemed a little extreme. They've looked int getting debt consolidation loans in Canada but it's tricky when they're not citizens.

Swiftgruve

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Re: Options for earners in Canada paying off US student debt?
« Reply #1 on: November 02, 2015, 02:17:38 PM »
I'm actually in the exact same situation as your friend, except that I'm already living and working up North as a full dual citizen. I owe $20k USD and am currently eating a 1.33 exchange rate every time I have to pay my student loans. As I understand it, declaring bankruptcy in the US won't help though, because bankruptcy doesn't remove student loans (yay usa...).

Anybody with ideas are more than welcome to fire away...