If you've been footing the bill for your child's student loans, it might be time to pass the torch and let your adult son or daughter take over the payments.

Whether that thought has you elated or terrified, there's something you should keep in mind: continuing to pay student loan bills long after your child has graduated could mean shortchanging your own retirement savings. And that can be a recipe for disaster for both you and your kids.

If you're currently wrestling with student loan debt, you’re not alone. A study done by Brookings Institution found that two in five borrowers are likely to default on their student loans within five years.

But before you go into panic mode, let's talk about what those survey results really mean and discuss ways you can avoid becoming a statistic. 

A Twitter war recently broke out after author and financial guru Jean Chatzky tweeted out: “By the time you’re 30, you should aim to have 1x your annual income set aside for retirement.” 

She even went on to say that by the time you’re 40 you should have 3x; at 50 it should be 6x; at 60, 8x; and by retirement, 10x. As you can imagine, everyone fired back. And not in a good way. 

For advice on everything from saving for retirement to potty training a stubborn toddler, moms know best. 

And even if you're not after advice, sometimes it's useful just to know that other moms are out there going through the same stuff you are. Here are six mom bloggers you should check out. 

Is it more strategic to put money into your retirement account or put any and all extra cash towards your student loan debt?

If you're like a lot of recent graduates you’re probably thinking that since retirement is so far away and student loan debt is right now, you should focus on what’s in front of you first. 

If you feel like your monthly student loan payments are barely making a dent in your loan balance, it might be time to see if you qualify for a lower interest rate. In fact, lowering your interest rate by even 1% can save you thousands of dollars over the life of your loan.

So how can you get a lower interest rate? Here's what you need to know.