Not just public prosecutor, ten year in any job with a 501(c)(3) (i.e. most non-profits) or government employer (federal, state, or local) with PAYE, IBR, or ICR* payments and the remainder of your student loans are forgiven tax free.
Although it can be difficult to put an exact number on the size of this benefit, it does significantly narrow the pay gap between public interest and biglaw, and means that public interest generally beats out the non-biglaw private sector options, at least looking at those first ten years in isolation.
* PAYE is the newest program and allows you to make payments of 10% of annual income after excluding 150% of the poverty line for your family size. The other programs have somewhat higher payments.
Source: I'm related to several (five?) school teachers and ex-school teachers. The staggering number of hoops to jump thru and document are considered a huge PITA. Its such a PITA its best mentally treated as a bonus as opposed to a life plan. All you need is one principal who takes a personal dislike to you and your financial life will be ruined, so for your own mental health, go in like its a lottery winning.
Although it can be difficult to put an exact number on the size of this benefit, it does significantly narrow the pay gap between public interest and biglaw, and means that public interest generally beats out the non-biglaw private sector options, at least looking at those first ten years in isolation.
* PAYE is the newest program and allows you to make payments of 10% of annual income after excluding 150% of the poverty line for your family size. The other programs have somewhat higher payments.