What are the expense ratios on these funds? What are the balances and interest rates on your student loans?
Take a look at this: viewtopic.php?f=1&t=6212
How many months of expenses does your emergency fund represent?
PRGFX is an actively managed mutual fund and the expense ratio is a bit high at 0.70%. Does T.Rowe Price also have index funds? I'm not familiar with them. If it was me, I would sell that and take $6k from my emergency fund and wipe out the student loans so they're gone. I wouldn't be investing in taxable with an interest rate of 5.75% on my student loans. Plus, that wipes out a $167 monthly expense.
Or I would sell the PRGFX and use the first $5k to open a Roth IRA against the 2012 contribution limit at Vanguard in the target date fund you mentioned and use the rest to pay off the student loans, as well as monthly cash flow until they're gone, then work on the 2013 Roth IRA.
At your current income, you are firmly in the 15% federal income tax bracket, so I wouldn't put any more into the 401(k) than you need to to get the match. The Roth IRA is a great tool for now.