WWYD - Student loan payoff versus savings

[Anonymous]

I have about $80K in student loans.
Only other debt is mortgage.
After living expenses we have roughly $2500/month left over for savings and/or paying toward principal of student loans.
My current monthly payment for student loans is $1200. I mention this because paying off my loans, would increase our monthly income by $1200.
Should we - put all of that towards the student loan each month and pay it off within 2 yrs?? Interest rate is 7%.
Or should we split it out - half towards student loans, half towards savings??
We do have about 6 months of living expenses in savings already and husband has a very stable job. I am a SAHM who works VERY part time, but has the ability to easily return to the workforce and make decent money if necessary.
Of note, the mortgage debt is for a rental property, not where we actually live. We outgrew our house and are now renting it out, and renting the current home that we live in. We would lose money if we sold the previous house, so saving money for a new down payment for a new house is also something we would like to think about.

Savvy financial wizards, help!

[Anonymous]

OP here. I realize some of my math doesn't make sense. We already have $20K set aside to put toward the principal of the loan just sitting there making sure that is what we want to do with it. Adding that in is how I get to the roughly 2 year payoff amount.

[Anonymous]

Presuming the interest rate on your existing mortgage is lower than the student loan, I would focus on exterminating the student loan debt. That is a pretty high rate given what mortgages go for these days, so I'd be inclined to rid myself of it before I jump into a new mortgage, then I'd focus on the downpayment for a new home, which should build fairly quickly if you've then freed up $3700 a month for savings once the student loan is gone.

[Anonymous]

Pay off the student loan debt first.

[Anonymous]

I have the same question. BUT. With the student loans being one of the only possible things you could get help down the road, I.e. work repayments, anyone see any value in spreading it out longer?

[Anonymous]

Anonymous wrote:I have the same question. BUT. With the student loans being one of the only possible things you could get help down the road, I.e. work repayments, anyone see any value in spreading it out longer?

Op here. Good point.