What to do with cash and loans?

I’m 30 years old and have the following in loans and cash. I have a very good paying job and no mortgage. I’m trying to determine what to do, save more cash or begin paying down debt. Obviously I need to maintain some cash base for issues that may come up.

Cash:
$ 6,000 in savings yield 4.25%
$ 12,000 in stock market investments (up from $ 8,000 in Jan.)

Loans:
$ 10,000 left on undergraduate at 3.25%
$ 41,000 left on graduate at 5.25%
$ 14,000 left on car loan (3 yrs. to go) at 7%
$ 5,000 in credit card debt 0% until September of 2008

I contribute to 401K, IRA, GE direct stock, kids college, and I have a universal variable life insurance. The life insurance policy is worth around $ 4,500.
I have approximately $ 2,700 a month in expenses; this number includes the kids college fund, GE direct investment, and life insurance policy.

To your point, I do have 6 months of expenses in cash.

Thank you very much for your responses, it is appreciated.
The credit card has a $ 10,000 limit.

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