Pay Student Loans or Invest

My wife has 32k in student loans. All of the loans are federal ranging from 3.4% to 4.6%, minimum payment is $263 per month. Our plan was to commit between $1000 and $1200 a month to the loan and use my bonus in Sept next year to completely pay off the loan.

Recently, we have been discussing if this makes sense or if, instead, we should allow $300 a month to auto pay and commit most of the extra funds to investments in Vanguard Mutual funds (VOO, VGT, and VTI).

I realize that the investments would likely make more than the 4% interest rate is going to cost me, plus it would also enable us to not pause the renovations on house we are doing each year. However, I think there is something to be said with being totally debt free.



I am 40, Wife is 34
We have about 460k in retirement savings
No other debts besides student loan and house