Question: My husband and I have about $14,000 in undergraduate school loans still unpaid. We will accumulate about another $60,000 of debt if we go to graduate school. Do you think it would be better for us to pay off our undergraduate school loans before going to graduate school? Response: With the exception of a few chosen careers, it will be very hard, even with both of you working, to repay $75,000 in school loans. What happens if you have children and want to stay home with them? Then you would lose your income and make it even harder to pay on those loans. My personal thought is not to accumulate that much debt. One of you, preferably your husband, should go back to school part-time. Stretch out the education over a longer period of that so that, rather than accumulating so much debt, you accumulate only a minimum amount. Some graduate schools make provisions for working adults to go part-time, until they have accumulated all but one year of credit hours—then go to school full-time for one year. As a result, that total indebtedness will probably be closer to $10,000 than to $60,000 and will make it much easier to pay back those loans. Just be very careful about accumulating so much debt. It’s very hard to pay it off. In your case, it would be the equivalent of buying a small home and never being able to live in it—a very tough thing to do.