Nasty education debt?

David Leonhardt uses a study by the Brookings Institution to argue that college debt is not the huge problem we think it is. The study asserts that the share of income that young adults are devoting to loan repayment has remained fairly steady over the last two decades. A detailed analysis of the numbers shows that only 7 percent of young-adult households with education debt have $50,000 or more of such debt, while 58 percent of such households have less than $10,000 in debt, and an additional 18 percent have between $10,000 and $20,000.

This is ironic given that the Sunday Times Magazine feature article was on the increasing college debt.