should i pay off my mortgage or my student loans first?

We have about a year and half worth of income (after tax) put away and liquid as well as retirement accounts to which we’re both placing money every pay period. We have approx. $ 55000 in student loan debt at 6.5% (mine) and 3.5% (hers), and approx. $ 65000 left on a recently refinanced 15yr. 4.75% mortgage. Since the banks aren’t paying interest we figured we’d start paying something down to save on interest long term – but which first?

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