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The time has finally come for NCAA athletes to earn their well-deserved money.
College athletes will now collect money for their name, images, and likeness (NIL). The rule change is something that has been argued about for many years. College sports fans have been criticizing the NCAA for making millions from college athletes.
Hence the NCAA has finally decided to let college athletes collect money from businesses.
How will the NIL rule help NCAA athletes and Universities?
Reggie Bush was one of the most exciting college football players in history. Bush found himself in trouble when he was caught accepting gifts from agents. The former Heisman Trophy winner would have made millions from the NIL rules and hence could have turned down these one-time gifts from the agents. Unfortunately for him, that rule did not exist back then.
On that note, let us take a look at three reasons why the NCAA made the right decision to allow athletes to accept money from businesses.
#1 The NIL rule could cut down a lot of off-the-field issues
Many college athletes have found themselves in trouble because of off-the-field problems. A lot of the problems stem from the lack of finances while attending college. With the new NIL rule set into place, college athletes will be able to support themselves throughout their time in college.
#2 More college athletes will stay in school
The NCAA has strict rules that college football players must play a minimum of two years at the college level before entering the draft. Many college athletes make the jump after their sophomore season, whether they're ready or not. Their decision to make the jump to the NFL is primarily due to financial struggles.
After making the jump to the professional sports world, athletes become financially independent. They now will have that opportunity while playing college sports.
#3 It will help college athletes understand how to manage their money wisely
The majority of athletes who jump from college to pro go on a massive spending spree with their first check. NFL careers are not long, and many NFL players fall into financial struggles after their career is over. Sports Illustrated reported that 78% of NFL players are either bankrupt or under financial stress within two years after their careers are over.
With the NCAA allowing college athletes to make money while in school, it should teach young athletes the value of money. Instead of blowing through their massive contracts in the NFL, they can fail and learn from the NIL compensation system.
