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Ok, so I work here in Canada and I've got a $21,000 USD student loan in the states with 4% annual interest rate that accrues daily. The exchange rate with the USD and the CAD is KILLING ME.

Do I:

A) Accept a 12 month forebearance, hoping that the CAD will get stronger relative to the USD. This would result in the amount owed growing by $856 USD.

or

B) Just grin and bear it. Make my minimum payments of $180 USD, eating the exchange rate every time. My loan would be reduced at the end of that same 12 month period however, rather than increased.

Anybody got advice?

Thanks!
 

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Why only pay the minimum payments? That's adding to the weight of the exchange rate hit. The faster you kill it, the faster you can get on with your life.
 

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The USD is falling now... great news for your loan! Why not take advantage of this and pump a few hundred $, or a few thousand into the loan?
 

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Ok, so I work here in Canada and I've got a $21,000 USD student loan in the states with 4% annual interest rate that accrues daily. The exchange rate with the USD and the CAD is KILLING ME.

Do I:

A) Accept a 12 month forebearance, hoping that the CAD will get stronger relative to the USD. This would result in the amount owed growing by $856 USD.

or

B) Just grin and bear it. Make my minimum payments of $180 USD, eating the exchange rate every time. My loan would be reduced at the end of that same 12 month period however, rather than increased.

Anybody got advice?

Thanks!
do not accept a forbearance under any circumstance

i speak from experience, student loans that get out of hand will eat you alive ... my debt got to 50K before i got a grip on it because i just let it slide EXACTLY as you are doing, by taking a forbearance and putting it off

the best possible thing you could do for your life is make a 2 or 3 year plan and pay it off ... move into a basement, get a second job ... seriously, drive a stake through that thing

in the usa taking on a student loan really, truly is holding hands with the mafia, the vig will kill you and there is nowhere to hide man

do NOT take the forbearance
 
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