PAYING IT DOWN: Joe Mihalic, a 29-year business school graduate, paid off $90,000 in student loan debt in seven months.

WHAT THE EXPERTS SAY: Student loan interest rates are low. It's best to pay off high interest rate debt first, such as credit cards. Keep funding your retirement accounts and make sure you have an emergency fund to cover about six to eight months of expenses before putting extra money towards student loans.

OTHER TIPS: Pay private loans first, they are more expensive. Don't cash out retirement accounts. You can earn a higher rate of return in the stock market.