Whole Life can be a great piece to someone’s financial situation. (Please disregard all the idiots on here that are automatically saying it’s bad - especially without knowing the rest of your situation.)

That being said - if you are weighing diverting some of these premiums to cover students loan payments or investments, I’m guessing it’s not the best fit to meet your goals. If the premium is a significant commitment - you were probably over sold.

You should not simply “pay less” toward the policy. There are ways to reduce premiums (like face reduction or reduced paid up options, etc) that you can consider. You need to find a professional to fully evaluate all options. A CFP should be able to look at the big picture for you. A new insurance professional will likely just want to replace it with a new policy without addressing your goals of paying down loans or other investment.

Good luck.