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"public indebtedness" is a correct and commonly used phrase in written English.
It refers to the total amount of money owed by a government or public entity. Example: The government's rising budget deficits have led to an increase in public indebtedness, causing concern among taxpayers.
Exact(25)
Tariffs, bounties, prices, and public indebtedness all rose.
Across the world, the bill for this recession will be a big increase in public indebtedness.
It entered the recession with relatively low levels of public indebtedness compared with other big countries.
The Brits are ahead of us when it comes to public indebtedness and national irresponsibility.
Clearly there were other factors at work besides the composition of bondholders or the level of public indebtedness.
Even if private bondholders can be made to share in some of the pain by rolling over their debts, this will still leave Greek public indebtedness unsustainably high.
Similar(35)
Public sector indebtedness has also risen since the crisis and some households remain vulnerable.
"It's all part of the same parcel: public sector indebtedness needs to be cut, it needs a lot of austerity, and it hit the central governments first, and now is hitting local bodies," said Philip Brown, managing director at Citigroup in London.
That means, McKinsey says, that useful reductions in public sector indebtedness may require sales of assets (privatisations), higher or one-off wealth taxes, a more permissive approach to inflation (since debt becomes more affordable when nominal incomes rise) and "more efficient programmes of debt restructuring".
It calculates that even if half of property related loans defaulted and lost four-fifths of their value, any financial rescue would see government debt rising to around 79% of GDP - which would be roughly equivalent to the UK's current public-sector indebtedness.
But you make no mention of the primary solution to keep down student indebtedness: public investment in higher education.
Related(20)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com