<prompt> Human: I had kids while I worked on my doctorate and I did a postdoc and after ten years if this I was left with about 120k in student loans and 80k in credit card debt. Weve paid off the credit card debt but I still owe 110k in student loans after about ten years of payments. Interest is about 3 but it is in graduated repayment for 30 years. Minimum payment is 400 a month, but it have started paying 650 a month. My question is whether I should switch to another payment plan. My kids will start college in four years and having a low monthly payment provides some flexibility, and I can overpay as long as I can afford it. My husband also works for a startup so I dont know if his job is stable.I make too much for income based repayment it would pay off the loan before forgiveness but I cant afford to do that high of payments 1500mo.. Plus this would mean very high payments while the kids are in college. My other question is whether I really have to send a letter every month for each overpayment to go to principal. What is the difference in cost to me if I just let the company advance the repayment schedule? The customer service rep said it is the same as going to principal, but I dont know if thats right. I realize most of you are very frugal to get these paid off ASAP, but thats just not going to happen for me. I just want to be sure the amount I can pay is used best. I will pay more as I get raises and pay off other debts.  <response>: Paying online may obviate the need to send a letter. With Navient theres a button to click to apply payment to principle or future payments. Also, consider auto payment, as it may decrease the interest rate. On a separate note, advise your kids to make smart decisions about college. Since you probably wont be able to help much, at least consider community college which is often nearly free if the student has good academics or at least a local state school where they could save money by living at home. If they arent already familiar with the family finances, educate them on the effects of student loans. 