I recently got a masters degree, and unfortunately the job market in my area is much tighter now than it was when I went back to school. I can't relocate out of my city because of kids/divorce. So assuming that I can get a job using my degree, my income will go up considerably. However, I have no idea when/if I'll get a new job. It could be awhile.
Here's how I see my options:
I have enough equity in my house to pay off my student loan debt. But then I won't have anything left for a down payment on something else. I could live in an apartment (which would be more than my mortgage) but the savings on my student loans would allow me to save up for another down payment.
Option 2, I can take out a home equity loan on my house and use it to pay down the student loans. This ties up my equity in a different way, but at least the interest would be less.
Option 3, I can just make student loan payments, hope I get a job soon, and when I do pay the debt down like crazy.
I crunched my budget way down like a true mustachian when I went back to school, so I don't really have a ton of room to reduce my budget much further anywhere else.
What say you Mustache Community?