I'm a big advocate of a work-for-pay setup rather than an allowance that isn't attached to chores - it's a great way to impart the value of money to your children.
Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.
Credit card companies are jacking up interest rates, lowering credit limits, and closing accounts - and people who have made timely payments are not exempt. So even if you pay off your balance - and that's tough when interest rates are insanely high - there's a good chance your credit limit will be slashed, and that will hurt your FICO score.
Every time you overhear something hurtful, I want you to do something kind for someone else.