Time and again we have pointed out the challenges posed by following a career in sport, the biggest one being uncertainty as to the longevity of an athlete’s career.
At a meeting that took place within the last days of April 2020, the Board of Governors of NCAA supported rule changes to allow student-athletes to receive compensation for third-party endorsements both related to and separate from athletics.
Anyone who has had involvement and experience in collegiate sports will attest to the fact that every single college athlete has his/her sights set on a sports pro career the minute they sign a National Letter of Intent.
Students entering tertiary education, including student-athletes, don’t usually have any previous experience in financial management, so when they are suddenly exposed to situations where they have to handle multiple income streams and prioritize payments, the task seems daunting.
The future of young student-athletes, as exciting as it may seem, hides a lot of challenges. The financial vulnerability of young people, especially athletes, is a real problem nowadays.
