You cap it at "payment in kind" of ~4 years of college, someone else suggests a salary on top of that, another person suggest it should be unlimited. What is the difference except a few dollars?They already were paid. The idea was that the college would take a chance and offer you 4 years of education and you would agree to that bargain and develop over 4 years. The benefit for the player is obvious- gain maturity, a college education, a chance in a lifetime opportunity to play before crowds and win games for the university you chose. This idea that money is everything in our choices is a really really bad one. I personally think that a kid going through 4 years of having to develop and stick with something is likely better statistically for the kids than making $100k a year at age 19 for being able to run and jump with no long term commitment to team or university.
Considering that 60- 80% of adult pro athletes end up BROKE a couple of years after they retire tells me that the straight emphasis on getting paid during college might not be so great. Maturity, character and commitment > cash IMO.
Look, for the kids that want the cash and not the education, they should be free to go pro to the NBA G League, Europe or where ever. College was supposed to be amateur sports.
Here is a point of reference to my above guess:
Statistics suggest that up to 78% of NFL players go bankrupt or fall into severe financial stress within just two years of retirement. For basketball players, the figures are only slightly better at 60% of financial ruin within five years of retirement.
A lot of money comes to draftees as a lump sum signing bonus, essentially front-loading their careers while they're still getting their toes wet in the world. As a direct consequence, many of them fall into a lavish lifestyle characterized by million-dollar cars, mansions, extravagant parties and more.
By the third or fourth year of their careers, players are already straining to live up to their former lavish lifestyle without their bonuses. This unsustainability spirals over time and creates a financial burden, even before players approach retirement.
It’s an all-too-common fate for many — but it’s avoidable with a little planning, according to a financial planner specializing in helping professional athletes who has seen it all.www.kiplinger.com
Seems to me the only people not making a ton of money these days are the players. Weird...