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My wife is about to begin paying off her loans from graduate school . Currently she has about $70,000 in loans, half of which are from Wells Fargo Med Cap Loans (with interest rates between 8.5% and 10%). We also have about $10,000 in cash. If we pay the minimum, the medcap loans will be paid in 10 years with about $15,000 in interest. Is it better for us to dump the $10,000 in cash into paying off the loan right away, or keep the $10,000 and invest it as a retirement fund for the next 20 to 30 years? Any help would be greatly appreciated. Thanks!
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