Author:
Purp 1
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Date Posted: Tuesday, July 15, 11:03:35pm
Author Host/IP: syn-074-070-140-050.res.spectrum.com/74.70.140.50
It's not enough and there has to be an acceptable amount of continual support from year to year. In 2022, 17% of D-I athletes received NIL money so it's not for every athlete, and MEDIAN awards were $62, and the average was about $2750. What else can you do with NIL funds because NU is at a fever pitch in solicitations....well there's this:
Common uses of NIL money:
Paying down debt: Athletes can prioritize paying off high-interest debts like credit card balances and student loans to improve their financial standing.
Saving and investing: Establishing a savings account or investing in a tax-favored retirement account like a Roth IRA can help athletes build a financial safety net and potentially grow wealth for the future.
Covering living expenses and everyday costs: NIL earnings can help with tuition, housing, books, and personal expenses not covered by scholarships.
Building a personal brand and entrepreneurial ventures: Athletes can use NIL funds to invest in developing their personal brand, launch businesses, create merchandise, and pursue other entrepreneurial endeavors.
Supporting families and communities: Some athletes use their earnings to help their families or contribute to charitable causes in their communities.
Investing in future career preparation: NIL income can be used for things like hiring agents, financial advisors, or accessing career development resources.
The University never did anything to engage themselves in sports at the school. Therefore you are back asking the same people over and over again to give more. People will give to a school, but to a financial advisor, an IRA, high credit card balances?
NOW you know what they will not disclose where the funds go, because not everybody is on board with this kind of giving.
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