“I have like 15 debit and credit cards from different banks in Bolivia, and they all have insane restrictions,” said Lara Romero, a fourth-year Journalism student at TRU from La Paz, Bolivia.
This lack of access to money is a common experience shared by Bolivian students studying abroad. Since the collapse of one of Bolivia’s largest banks in 2023, the country has slowly seen its dollar reserve decrease. This led to the government introducing monthly restrictions on international spending. The limit for international spending was around US$1000 per month in April; currently, it is as low as US$35 per month.
The country has also seen the value of its currency slowly decrease. The official exchange rate was 6.7BOB (Bolivian bolivianos) per dollar for over a decade. Late last month, it hit 6.91BOB per dollar. However, street rates are much more transparent, and their current exchange rate is 10.78BOB per dollar.
This means that Bolivian students at TRU face an uncertain future. Unsure if they can pay for tuition, pay for housing, and keep food on their plates. Even if they have the money, it is virtually worthless as they can’t send it overseas.
“I have to balance my work and studies here,” said Emi Terrazass, a first-year Chemical Biology Major, “which leads to devastating emotional and physical exhaustion.”
With a newly capped working hour limit for international students, making ends meet is only getting harder for them, leading to further concern for an already ballooning problem.
TRU offers grants, scholarships, and loans to students to help them with their financial issues, along with the Wellness Centre and free therapy for emotional support. However, direct, unsolicited information from the university on accessing these resources is sometimes lacking or outright missing.
“Since this is my first year here, I don’t know in-depth [what] programs TRU offers to help students,” Terrazas said,” I would love to learn more about what TRU can offer in terms of support.”
Another challenge Bolivian students have communicated is the lack of understanding. Many people are unfamiliar with the situation in Bolivia and, therefore, don’t know how to approach it. In some cases, people make comments that come across as ignorant or even hurtful.
“Often, Stereotypes or oversimplified perceptions don’t capture the full complexity of the situations,” said Esther Chaparro, a first-year Business Administration student. “A deeper understanding can foster better empathy and connections.”
For her part, Romero is currently working off-campus to cover all of her living costs. However, this is not the case for all students, as some have recently arrived and are seeking desperately needed employment.