Studied South American country's education (7)
I believe the answer is:
perused
'studied' is the definition.
(I've seen this before)
'south american country's education' is the wordplay.
'south american country's' becomes 'perus' (Peru is an example).
'education' becomes 'ed' (abbreviation - e.g. sex ed).
'perus'+'ed'='PERUSED'
(Other definitions for perused that I've seen before include "Browsed" , "Scanned" , "Studied" , "Read (something) very carefully" .)