Can College Football Players Get Paid Now?

I've heard things have changed recently when it comes to college athletes getting paid. Can college football players now receive payment, and if so, how does it work? Wondering if this impacts scholarships or other aspects of being a student-athlete.

Yes, college football players, along with other college athletes, can now benefit financially from their name, image, and likeness (NIL). The NCAA, which governs college athletics, modified its rules in 2021 to permit this, and it's a significant change from the past.

Here's how it works: athletes can sign endorsement deals with companies, participate in autograph signings, offer training sessions, sponsor their own camps, sell merchandise, accept advertising deals on their social media platforms, or other activities where they can earn money from their NIL.

These new rules mean college athletes can monetize their skills and popularity while still being a student. That said, many colleges and states have implemented their own rules about the kind of deals athletes can strike, so players are urged to understand these in detail.

As for scholarships, the new rules have no direct impact on them. Athletes can still receive scholarships and the scholarships are not affected by any income an athlete may make from NIL activities. The traditional student-athlete model where athletes receive scholarships for their education in exchange for participating in sports remains intact. However, schools can't arrange NIL deals for athletes, as that would be considered pay for play, which is not allowed.

Remember to consult with a knowledgeable source, such as an athletic director or a compliance officer at the university, before getting involved with NIL opportunities to understand potential tax implications and to ensure all activities are in compliance with NCAA, state, and school rules.