Welcome to Money.SE. As Dheer notes, we can come up with pretty good advice with more details.
Absent any more information, I'd offer this - money withdrawn today, from a traditional IRA, is subject to tax and 10% penalty. The day you turn 59-1/2, that 10% penalty evaporates.
Withdrawals at that time are still subject to ordinary tax at your marginal rate. If you happen to be in the 15% bracket, it may make sense (at 59.5) to withdraw enough to top off that bracket and use the extra money to supplement those payments. If you are already a 25%er, you have to decide whether this money is better spent paying the loans early. Much of that decision is based on the rates involved.
More important, in my opinion. what is the child doing? You borrowed money (I assume) to send a kid to college, and now he's out. Is he not able to chip in? $715K in retirement is pretty great, in the higher end of what pre-retirees have. It translates to just under $30K/yr in withdrawals at retirement. A decent number, really, but not a number that has you comfortably paying for this debt.