...I would try to tackle the debt as fast as possible. I would not make minimum payments, but rather pay as much as I can. Graduating with no debt at 22 is a good feeling. I say this from personal experience. I just graduated a year ago. Kill the debt, then invest.
It really depends on the interest rates. It makes no sense to pay off debt early if you can make that money work for you and produce a better return. If the student loan interest rate is low enough (or zero) then it is probably better to invest. I also would not repay debt any faster than I had to if I were going back to school. It is better to maintain a more liquid position at that point.
"Feeling good" about paying off debt is fine. But the price of that good feeling is the opportunity cost of what you could have done with the money instead. That is often ignored but it should not be.
I don't disagree with what "doinghomework" is saying. The opportunity cost is very important. Let's say
1. I had 50K in debt at an interest rate of 3%.
2. I invested in a mutual fund that gave me a 9% guaranteed
return. It MUST BE guaranteed to me.
3. I am profiting 6% (maybe 3-4%) after taxes.
1. I had 50K in debt at an interest rate of 3%
2. I invest in a mutual fund that gave me no guarantee, but maybe I could get 9%
3. The mutual fund tanks and I loose half my money.
4. I loose my job 3 months later.
5. My investment went south, I lost my job, and am in debt.....
That is why I like to pay off my debts early. This philosophy might come from reading and listening to so much of the Dave Ramsey show. At the end of the day, do what fits your budget and plan best.