Reply to Pay extra towards student loans, or start saving for kids college

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[quote=Anonymous]I think you need to suck it up and stay at the boring job for 5 years to get the loan forgiveness. If it helps with your mindset, think about it as helping your children. Eliminating the federal debt will greatly assist in your ability to help them long term.  Put the extra $600 towards your private loans.

OP, I feel for you. Our finances and family situation are almost identical, although I started with 'only' $110k and I am 41.  I've been paying $2k a month for the last three years and I am going to pay off the last $15k with my federal refund and a chunk of savings. I have not yet set up their 529s (they are 1 and 3).

You need to target your student loans and make that your goal. If you want to set aside something for your kids now (even though staying at your boring job will provide to them a huge benefit in the long run) find the money elsewhere. Do you eat out? Do you have premium cable? Do you drive new cars? Cut something that you 'want' but go not need and put that into their 529s.

Good luck. [/quote]

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