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[quote=Anonymous]OP, I have no idea if you're still around. But if you are, I'd say this -- over $500K in student loans is bonkers and needs to be your #1 priority. If you and your husband are in jobs that are PSLF-eligible, that's great; stay in those jobs until you get your loans forgiven! You will be much more comfortable at that point.

If your jobs are not PSLF-eligible (or if you refinanced your loans into a non-eligible loan), consolidate and refinance into the lowest rate possible. Stop eating out. If you are paying for a car or two, get rid of the car note however you can -- if it means going down to one car, so be it. Or sell both cars and use the cash to buy something used and reliable. (Think Honda, Toyota. I personally drive a 2002 Hyundai and it still works just fine to get me from point A to point B.) I would not even worry about saving money for your kids' college at this point -- just pay off your own student loan debt as fast as you possibly can. Is it possible for you to live off of one income and devote the other income to paying off debt, for example?

You are probably better off owning your home tax-wise, but you may want to consider whether it would be better to sell your home, take the equity and pay down some of your student loan debt, and rent in a cheaper place until you've paid things off.

I have a student loan over $100K and I am also a government lawyer. I am PSLF-eligible, though, and I'm over halfway in for loan forgiveness. My DH and I live very frugally on our HHI of $175K. Two cars that are fully paid off, a mortgage that is $1250/month, daycare that costs about the same, no eating out, having friends over for dinner and cooking meals and opening a bottle of wine instead of going out for happy hour, free museums and parks for entertainment for our toddler, no vacations. These are the costs of being in your 30s these days -- student loan payments cost the same as a mortgage cost the same as daycare. It's hard. But it will be easier once your student loan is under control or paid off. I sincerely hope you are eligible for PSLF or else you will likely be paying that student loan off for the rest of your working career.

Best of luck to you, OP. [/quote]

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