There have been stories about student athletes whose names were familiar to all. Their tuition was paid by scholarship, but they had no money to buy school supplies, go to a movie or get a new shirt.
It's not going to happen anymore. The NCAA has agreed to make a total of $218 million available to Division I schools through the 2012-13 school year for use by athletes who can demonstrate a need to access the funds.
The settlement is in response to a class-action suit brought by former football and basketball players. The settlement also requires the NCAA to make available $10 million for football and basketball players at major conferences, from 2002 through this academic year, for educational expenses. It includes a $500 and up to $2,500 per year payment for three years.
Funds for the program will come from the CBS $6 billion TV contract for the NCAA basketball tournament through 2013. All student athletes, both men and women in all sports, will be eligible for the aid.
The NCAA urges the schools to use the money for anything it feels is appropriate. Its general council Elsa Cole said, "For example, if a student athlete's grandmother dies, it can be used for travel to the funeral, or for a jacket to wear to the funeral. Or it could be used to buy a computer."
The settlement permits Division I schools to provide year-round comprehensive health insurance to student athletes. Because virtually every school has a health insurance plan for thousands of employees, the cost of adding student athletes will not be too high.
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