Adopted rules also state that colleges must provide financial literacy and life skills at the beginning of a student athlete’s first and third academic years. The rule states that this is a requirement for all student athletes, not just the ones receiving compensation for their NIL.
Sidney Ramos said that taking a job at her local high school has afforded her the time and wages to be able to start classes at a community college again in the hopes of finishing her Bachelor’s degree. She added that many of the servers she used to work with also found jobs elsewhere during the pandemic, and had similar realizations of feeling they had been expendable in the service industry.
The sporting economy in the U.S. allows athletes to better monetize their talents as most of it is driven by the private sector, according to Unmish Parthasarathi, founder and executive director at consulting firm Picture Board Partners.
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2. Certificates of deposit (CDs)