Which debt to pay off first and why?

[Jonathan F.]

I'm pondering a few different options about how to use my money right now. One option is to invest in another rental property. The other option is to focus solely on paying down debt. For the purposes of this thread, let's focus only on the 2nd option please.

Currently, I have the following 2 debts:

$188,000 - Mortgage - 4.5% - It should be noted that I took a hit with the market down-turn and the home currently valued at around $160k. This house is currently rented and is breaking even (no significant monthly gain/loss).

$110,000 - Student Loans - 3.375%

Which would you focus on first and why? I'm currently able to funnel a decent amount of money at either. I've had really good luck with Dave Ramsey's "snowball" approach so I'm leaning toward the student loans. Thoughts?

[Jerry W.]

From a legal standpoint pay down the student loans. If you lose your job and tenants move out, in a worst case scenario you can declare bankruptcy and wipe out the house debt, you cannot wipe out the student loans if they were government insured. The term is nondischargeable. Even though I cannot spell it.