Going to be coming into $30,000. What’s the best way to utilize it?

I posted here a week or so ago about managing my debt. I have $75,000 in student debt between 9 loans. I started on the double consolidation loophole for my parent plus loans yesterday. My average interest rate is ~6.5%. Highest is 7.35%.

I’m really lucky in that my parents are going to make the first 4 years of my minimum payments for me while I focus on my career. My Dad recently accepted a severance package from his employer and he’s going to be able to give me the equivalent of those four years of payments in a lump sum sometime over the summer.

Basically I’m going to get a check for ~$30K. I feel extremely privileged to know that my family is willing and able to help me tackle my debt like this. I want to be as responsible as possible with what I do with the money.

What would be the best course of action? I can’t afford my monthly payments with my current salary so I’ve considering moving back home and paying half of what my rent would’ve been plus groceries to my parents so that I can cover the payments.

I basically have two potential plans:

  1. My thought is that if I put $25K towards principal and put the rest in a high yield savings account I can move home for a year and cover the monthly payments and also contribute ~$250 extra each month. Then probably refinance for lower payments after hopefully securing a higher paying job and ride it out. This would have me pay much less over time and would help me feel like my debt isn’t hovering over me at all times. I’m thinking I could get the total down to 20K or less. It would also mean I’d have to move home In my late 20’s which I’m not thrilled about but I’m willing to do it if it means getting that number closer to zero faster.

Or

  1. I could put some of the total towards principal and stay in my apartment. I could use the lump sum from my Dad to cover the monthly payments while similarly contributing an extra $200-$250 a month from my income until the funds run out. This option would leave me paying more over time and probably for longer, but I’d have more independence and financial security knowing my payments will be covered for around 3 years.

Curious what this sub thinks