So, I had a much more complicated question here, but I think it was a little overcomplicated, and it probably just boils down to this -
I have two chunks of student loan debt, which one am I better off putting extra cash toward?: the chunk with a 6.625% rate or the one with a 6.875% rate and half of the interest subsidized? I know you're supposed to go after the higher interest rate first, but then I get totally stuck on whether or not (and how) to adjust for the subsidies. Like, the 6.625% is effectively higher now, but then the 6.875% one will be higher when it goes into repayment, so which one to pay down?
For what it's worth, the 6.875% one will have interest subsidized for another year and a half, and it'll take us probably 5-7 years after that to pay both chunks down. We took out WAY too much in student loans, and managed to do it when interest rates were at the highest :( I haven't been paying them down very efficiently, and am really nervous I'm making another stupid mistake with how I'm allocating our extra payments...