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I am a 35 year old with a wife and two small kids making 70 thousand a year and no credit card debt. I am paying for 2 new cars. I just finished my post grad degree and have 85 thousand in student debt. My wife does not work out side of the home, and the only savings we have are in my employeer based savings plan, and it is not much as I graduated last year. I have read the postings on conslidation and July 1, but my questions are:

1. Is it better to put every penny into paying back the student loans, or to build emergency and long-term savings while paying back?

2. Should I try to pay it off sooner (10 year plan, 500 to 1000 a month) or over thirty years (a steady 500 a month).

Thank you all for helping.

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