 What order am I supposed to be paying off my debt? I've got two really big loans that are kind of the last two pieces aside from my mortgage payment, and I'm just kind of wondering which way to attack them. Okay, lay it out for us. What are the debts and what are the balances? So as of right now, we have paid off about $125,000 in debt in just over a year's time. Wow. Most of that went towards student loans, and we have two paid-off vehicles.