(01-23-2015 11:44 AM)DetroitRocket Wrote: At one point, Texas was talking about 10 grand per athlete. Is there going to be a limit?
Yes. The Financial Aid Administrator at every institution has to come up with the Cost of Attendance "COA" for their respective institutions. Basically, you have a few different COA's -
* On-campus (in-state) Dependent Student
* On-campus (in-state) Independent Student
* On-campus (out-of-state) Dependent Student
* On-campus (out-of-state) Independent Student
* Off-campus (in-state) Dependent Student
* Off-campus (in-state) Independent Student
* Off-campus (out-of-state) Dependent Student
* Off-campus (out-of-state) Independent Student
Under federal guidelines, most college students under the age of 24 are considered DEPENDENT students, regardless of whether or not their parents are helping them pay the bill. An institution can use professional judgement to change this.
Cost of attendance is not just Tuition and fees, Room, and Board but you also add in other basic items -
* Books
* Transportation
* Laundry
* Fun money (because you know a student is not going to eat all 21 meals each week on-campus)
This is a number you report to the federal government and you use it when awarding financial aid.
So for a school that has a price tag of $18,000 (Tuition, Room, and Board), the Cost of Attendance could reasonably be $22,500 for an in-state dependent student.
As for the idea of the stipend, the P5 leagues are going to have to put a cap on what they will offer and then they are going to have to police themselves.