I completely agree with the above point, and not just for walk-ons, but for all college athletes.
We all can talk about how tough it is for some of these kids to cover incidental expenses, but the bottom line is they signed up for this. They are not forced to play, nor are they forced to go to college. Yes, it is hard work, but again that is why they receive the scholarship. For many of these kids it is the only chance they will get to a. receive a college education, and b. have a chance to become a professional athlete.
Many of us who went to college completed an unpaid or low-pay internship. Why? To better our chances for future careers. The company for whom the intern works certainly is not paying them adequately for their work, but both the company and the intern benefit. The company in the short-term, and the intern in the long-term. And, this is understood ahead of time. I look at college athletics the same way. The future career may or may not be pro sports, and most of the time it is not, either way the college athlete is better prepared for their future than they would be without college.
Plus, what college athletes receive goes far beyond tuition and room and board. Much of their food is paid, and is much better quality than what the normal college student would have. They receive elite fitness training, they receive tutoring. Then there are the ancillary benefits-they are the big men on campus, they are eligible for post-grad scholarships that many others are not, they make connections with boosters that will help them when they look for a job after college, they are more recognizable among the general public, which will also help them later in life.
Plus, the math does not work. As a previous poster estimated, it would cost NCAA nearly 2 billion to give each college athlete a $400/mo. stipend. As another noted, if it was limited to revenue sports, Title IX issues would surely arise, and what is a revenue sport? For some schools there are no revenue sports, while for others, like us, we have an extra revenue sport in hockey that many other schools do not. If it were left to the colleges to pay, what would the cash-strapped athletic departments do? Fold up the program entirely?
Finally, on the salary cap for coaches issue. Why? What would this solve? Would it make college sports more competitive? I doubt it. Most college coaches started out as grad assistants somewhere making next to nothing, and worked their way up through assistant jobs and small-college head coaching jobs, so it is not like they did not work to get where they are. I really don't know what this would solve, as the top coaches would still be attracted to the top programs, even without a pay increase. If you had a choice between coaching at Iowa State for $500,000/year or Ohio State for $500,000/year, which would you choose? Even without a pay increase, the coaches would be attracted to facilities, tradition, institutional support, etc. The top coaches would then attract the top assistants, top recruits, and we are right back where we started.