Best of the Web: Volume 1

Michael Lux Best of The Web, Blog, News 2 Comments

In preparing my articles for each week I come across many sources of great information.  I also stumble across some really cool stuff as I am a prolific procrastinator.  Rather than let this great material go unshared, I’ve decided to do a weekly roundup of what is new and noteworthy in the world of student loans and money management.

Around the Web

An interesting question was proposed over at and  Suppose you were presented with 100 unlabeled boxes. 99 of them contain $1 million. The 100th box contains a substance that will cause instant death. You open the boxes one at a time and you get to keep whatever is in the boxes that you open.  How many boxes would you open?

Thinking about canceling your credit card?  Eric over at NarrowBridge has some solid advice on whether or not you should be canceling your old, unused credit cards.  If you are facing this decision it is a must read.  Your decision could have a big impact on your credit rating and your wallet.

The Debt Roundup has some fascinating graphics and statistics on individual savings in the United States.  Did you know that 22% of Americans have less than $100 in their savings?  Nearly half the country has less than $800 in their savings!

Finally, Young Adult Money has some great tips on ways to relieve stress on a budget.  If you are trying to pay of your debt without going nuts, this is a worthwhile read.

Student Loan News

In student loan news, reports leaked that Ohio Senator Sherrod Brown would be unveiling a plan to help distressed borrowers refinance their student loans with the government at a lower interest rate.  According to the reports, this bill will be budget neutral.  The exciting part is that it would be the first federal legislation that would help students who are struggling with private loan debt.  If this legislation gets any traction I will be sure to share all the details and latest developments.

Fobes published an article about how student loans are preventing the purchase of homes and cars.  One noteworthy statistic indicated that one in three milliennials regret going to college.

Weekly Dose of Awesome

This isn’t really related to student loans or debt, but its impossible to watch and not smile.  This 15 minute video is about a young man who gets some footage that his great uncle shot during WWII.  After getting creative with Google, he finds the pilot who crash landed in one of the videos.  The pilot is interviewed and gets to see the footage for the first time – 63 Years after it was shot!  With the Fourth of July coming up, this is a must see.

If you have anything you think should be shared in next week’s Best of the Web feature send me an email and let me know.