In the US, student debt has grown the most among any other types of debt. While student debt can be viewed as a good investment because of the high returns on college education, it can also have distortionary behavioral effects. One such distortionary behavior is occupational choice. In this paper, I construct a model of occupational choice between being an entrepreneur and a worker and examine how occupational choice is affected by repayment plans available to students. Since entrepreneurship is inherently riskier than becoming a worker, a debt repayment plan that takes into account the income level of the borrower can have an effect on occupational choice. I find that while repayment plans do not change the rate of entrepreneurship in the aggregate, there is substantial change in the composition of entrepreneurs by age.