<human>: Condense the text into a few key points

My wife and I both have pretty large amounts of student loans ($72,000 for my PhD, $83,000 for her 2 Master's), which are all Federal Direct Stafford Loans.  The payments on these loans together will come to around $1,780/month, once I am out of deferment (I just finished school a couple months ago).

My income is $100,000/year, which comes out to around $2,950/biweekly after all taxes and insurance.  I also have the potential to get an incentive bonus of $8,000/year, depending on my performance and the performance of my company.  Budgeting as best we can for rent, car, phones, utilities, groceries, and other routine expenses come out to around $3,000/month.  It does not cover things like trips, car repair, and other incidental expenses.

We have around $10,000 in savings, but half of that is owed to my parents over the next few months (interest free loan to help us move to my new job location).

The issue is that my wife is currently pregnant with our first (any day now) and therefore decided not to continue her position as a teacher at the end of last school year (which paid around $43,000/year).  Our plan is to have her stay home with our child until he and any subsequent children are old enough to attend full day preschool.  

Since we would like 1-2 more, this will mean that she will not be working for the next 6-8 years.  With her working, the student loan payments would not be a huge issue, but with only my income, they seriously cut down on what is left after routine and incidental expenses.  

We have the option to get either reduced or graduated payments, which would lower our combined repayment to around $900-1000 a month.  Our thoughts were to do this for the time being and then accelerate our payments once she returns to work.  Is this a good idea?
<bot>: Wife staying home for the next 6-8 years, should I reduce our student loan repayments for that period to give us more breathing room?