Confident consumers step up borrowing as incomes rise and total debt declines

25 Dec 2013 • online.wsj.com

The new data showed that Americans, four years into a lethargic economic recovery, are making substantial progress in a long slog of deleveraging—cutting debt that has been weighing down households for years.

One exception is student debt. The amount of education loans outstanding has increased every quarter since the New York Fed began tracking the figure in 2003. They now account for almost 9% of all consumer debt, up from 3% a decade ago.

I think the college education system in combination with student debt is badly broken in this country, but I have no idea how to fix it.