Student Debt in America Has Hit a New Record

``The problem could be even worse than the New York Fed's data suggest. The report is based on a sample of household credit reports, which regulators have found are often filled with errors. The Federal Reserve Board in Washington has total student debt pegged higher, at $1.41 trillion... There was some good news in the New York Fed report. Total student debt only increased by 6.3 percent compared to last year, the smallest annual increase in data going back to 2003.''