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Could student loan “reform” wreck college athletics?

BankwalkerBankwalker ✭✭✭✭✭ Graduate Posts: 3,771 ✭✭✭✭✭ Graduate
edited June 25 in General
if everyone gets student loans forgiven and then granted free school, will we see a big decline in the number of student-athletes?  Why would student-athletes continue getting up at 5am every morning for workouts if they are not going to play professionally and no longer need the scholarship?  Intramurals and club team activities are also available without having to answer to coaches.  Why would a football player at Directional U get pummeled for their school if not for the scholarship?  Just for the love of competition?   Maybe for the first year but then many might choose being a regular student.  I think the big schools would likely be able to attract top talent, but players with no pro prospects would have a lot of their incentive removed, especially after the first year exposure to the additional time demands.

Would coaches be more likely to cut players who didn’t live up to expectations?  The stigma tied to taking away a scholarship would be greatly reduced since the player would still get free achool.  

Why would female student-athletes get up at dark30 hour for workouts and practice, when there are literally no pro prospects?   Wouldn’t make sense for many if they were suddenly able to attend achool for free and didn’t need a scholarship.   

How would the potential loss of many female athletes then create unreasonable Title IX issues, especially for smaller schools where the prestige of competing is not as high?

I believe most, if not all, student loans are forgiven after 10 years of paying a percentage of salary. This is known before the person ever starts working and accruing other debts.  The people who say they cannot afford student loan debt are unable to do so because they elect to live at a higher lifestyle rather than budget accordingly.   
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Comments

  • PeachCoDawgPeachCoDawg ✭✭✭✭ Senior Posts: 447 ✭✭✭✭ Senior
    The state of California is at the forefront leading the charge to pay college athletes in certain different capacities. NCAA says go ahead... ALL Cali schools will be exempt from post season play. 

    https://amp.usatoday.com/amp/1542632001

  • PapaSanfordPapaSanford ✭✭✭ Junior Posts: 50 ✭✭✭ Junior
    @PharmDawg2054 ;The idea that all the sudden kids are budgeting badly and ruining their financial future personally is at the least an underestimation of how much harder it has gotten. The cost of school has gone up quite a bit, more than doubling since 1980 (https://nces.ed.gov/fastfacts/display.asp?id=76) while the economy requires a degree more than ever. I graduated last year and have friends with good degrees, marketing, finance, journalism, that still cant find jobs. So it isnt a magical solution either. Things are not as easily done as they are said and 1000s of kids who were never taught about finances are given predatory loans sold on the outdated story of working your way through college. Student loan debt doesnt get into the many trillions with personal failings, it happens because of systematic problems. 

    Some kids may not want to play football anymore but the 125 kids from the underprivileged area who arent given a weight around their neck for their whole professional career are more important to me than the 2 kids from the same area who might not continue athletics 
  • SniperdawgSniperdawg ✭✭✭ Junior Posts: 29 ✭✭✭ Junior
    In order to be a student athlete, especially an athlete good enough to earn a scholarship, much work and dedication has been put in. The student athletes have a drive to compete, which is also why they put in the hard work and dedication to get where they are. The tuition factor is not the only driving force. These student athletes want to come in and be great at their sport. So I don’t see loan forgiveness being a factor. 
  • Dawgsince76Dawgsince76 ✭✭✭✭ Senior Posts: 524 ✭✭✭✭ Senior

    It’s something to talk about I guess but, it’s not going to happen.

  • Dawgsince76Dawgsince76 ✭✭✭✭ Senior Posts: 524 ✭✭✭✭ Senior

    The people who are saying this are only making empty promises that they won’t keep to try and get votes.

  • BankwalkerBankwalker ✭✭✭✭✭ Graduate Posts: 3,771 ✭✭✭✭✭ Graduate
    @PapaSanford. You say student loans put a weight around their neck for the whole of their professional careers.”  

    Go to less expensive schools.   They may not all work the same but my niece’s student loans require the student to pay 10% of their salary until the loan is repaid, or for 10 years, whichever is shorter.  After 10 years, the entirety of the loan is written off.   If she can get that type of loan, why can’t just about everyone?   
  • KaseyKasey mod Posts: 10,863 mod

    Eventually one day people might realize the most important name on the diploma is yours, school less so. If you want to go to Harvard, or Stanford, or some fancy private school, you should apply for every scholarship under the sun. There's too many good colleges out there to get a good education for a fraction of the cost.

    Crazy notion, but maybe don't pick a major that will make you have to go back to college? Or maybe work for a while in a blue collar job while you decide what you actually want to do.

    Whatever, I'm sure I'm preaching to the choir in this thread

  • GeoffDawgGeoffDawg ✭✭✭✭✭ Graduate Posts: 1,168 ✭✭✭✭✭ Graduate

    This: "or the loan companies allow them to take out absurd amounts of money for a degree that won’t make any money. Six figures for an art degree. "

    We already have a structure in place where we encourage banks to make riskier loans as there's little incentive to vet them on a standard ROI basis. If the Feds guarantee student loan debt forgiveness, you remove all motivation for the banks to act as a responsible fiduciary. In turn, this will lead to a run of loan applications from people who have little to no intention of ever paying them back.

    Colleges, as has already been the trend with relaxed loan standards, will recognize this increased interest in further education and will continue to raise tuition rates faster than normal inflation levels would justify.

    If this is sounding familiar, it's essentially the same type of scenario that lead to the great recession when the housing market crashed. Fannie Mae and Freddie Mac, under federal guarantees, underwrote these subprime mortgages and I think we all saw how that turned out.

  • PTDawgPTDawg ✭✭✭✭✭ Graduate Posts: 1,227 ✭✭✭✭✭ Graduate
    You never do anyone a favor when you teach them that they don't have to honor their commitments. Someone else will take care of it, someone else will pay for it... That is the absolute wrong message to send. It is irresponsible and misguided at best, deceitful and devious at worst.  And I say that as someone nearly done with almost 6 figures in loans paid back.
  • PharmDawg2054PharmDawg2054 ✭✭✭✭✭ Graduate Posts: 2,998 ✭✭✭✭✭ Graduate
    edited June 25

    I dont see where we disagreed anywhere? My first quote was a quote from Bankwalker in the original post. Kids, adults, and majority of people do not understand money. It has always been this way

    as far as a reason that college has increased in cost so much.... government aid has been a big cause. Another cause is lack of education to parents and kids who are taking out loans.

  • PharmDawg2054PharmDawg2054 ✭✭✭✭✭ Graduate Posts: 2,998 ✭✭✭✭✭ Graduate
    edited June 25
  • PTDawgPTDawg ✭✭✭✭✭ Graduate Posts: 1,227 ✭✭✭✭✭ Graduate
    @PharmDawg2054, totally agree. You should not be able to graduate high school in this country without passing some sort of standardized financial literacy curriculum.
  • PharmDawg2054PharmDawg2054 ✭✭✭✭✭ Graduate Posts: 2,998 ✭✭✭✭✭ Graduate
    @PTDawg... the parents who would be for that are the ones already talking to their kids about money at the dinner table 
  • YaleDawgYaleDawg ✭✭✭✭✭ Graduate Posts: 1,665 ✭✭✭✭✭ Graduate
    Go to your local school board meetings and tell them you want mandatory financial literacy courses. Vote them out if they refuse. 
  • WCDawgWCDawg ✭✭✭✭✭ Graduate Posts: 17,120 ✭✭✭✭✭ Graduate

    Some may not know this but the state of California provided free college education for every resident who qualified for decades. That didn't stop them from having great college football programs. Also high school education is free in this country yet high school sports thrive.

    Kids love sports, they won't stop showing up for try outs.

  • DvilleDawgDvilleDawg ✭✭✭✭✭ Graduate Posts: 873 ✭✭✭✭✭ Graduate

    My son will be a junior in high school this coming school year. One of his classes is a financial literacy class. We also plan on applying for every applicable scholarship we can to get him through college. Kids can also look for jobs in companies that will pay for furthering education. It may not be a job you really want but having your higher education paid for is not a bad sacrifice to make.

  • ziggyholidayziggyholiday ✭✭✭ Junior Posts: 171 ✭✭✭ Junior

    One of the things I've talked to both of my daughters about for years is the importance of taking your expected salary into account when looking at the cost it takes to get the required degree from their school of choice.


    Attending NYU for an english degree is "probably" a terrible idea.

  • WCDawgWCDawg ✭✭✭✭✭ Graduate Posts: 17,120 ✭✭✭✭✭ Graduate

    Yaledawg. I think personal finances should be taught in every high school in this country. It's not important for kids from a business family, but for many kids it would teach them basics they have to try to pick up ad hoc now, if they ever do.

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