When 100% of your college debt can be cleared after 10 years, no matter how much, if you choose “public service, then that is powerful incentive.
“In his 2010 State of the Union address, President Obama called for providing complete “forgiveness” of student loans to students who spend 10 years (with 120 continuous payments) employed in public service. This would be an extension of the 2007 College Cost Reduction Act, which took effect in July 2009. Public service includes government and non-profit work, including those inculcating liberal ideology, but excludes employment in religious instruction or proselytization.[Section 685.219—Public Service Loan, p. 15.27] In addition to increasing the national debt, this provision may be seen as being conducive to further promoting the liberal entitlement mentality, and populating government with those who often manifest and propagate the same.” -
http://www.astorehouseofknowledge.info/Education_in_the_United_States#Ideology_in_modern_education
I already know of one recent law graduate who has chosen public sector work in good measure because she anticipates forgiveness of her student loans after 10 years. I'm biased toward the private sector, but even if I weren't, I think I'd be pretty careful about believing any promises from this goobermint.