Need help with small windfall

[bjl584]

[quote=SavedintheCity;106252]Well, the long and the short of it is that my parents will be giving me 10k to pay off some school debt. I have not asked for this, but I would be foolish to turn it down.

I think your original statement above is why everyone assumed that the 10K was conditional and intended for a specific purpose. You said that it is for paying down "some school debt." Just wanted to clear that up. Now I can go back to my nervous nellie ways.

[cptacek]

Originally Posted by SavedintheCity

I am trying to pare down the number of creditors in the states and not the total debt, because I will need to make monthly payments in foreign currency which will expose me to exchange rates so I need to limit that to as few credits as possible. It will cost me more in terms of the length of term, but it will help hedge against unfavorable fluctuations in exchange rates.

I am confused as to why having less creditors is better than having less money owed in the US. Is it because of the hassle of getting the money exchanged? I don't understand the logic behind "I will need to make monthly payments in foreign currency which will expose me to exchange rates so I need to limit that to as few credits as possible." Won't having a higher total balance mean that if the exchange rate is not so good, you will be paying more money off to fewer creditors with an unfavorable rate instead of paying less money off to more creditors with the same unfavorable rate?