One of the most publicized stories is that of returning Texas A&M quarterback, Heisman Trophy winner Johnny Manziel, aka “Johnny Football, ” who allegedly signed autographs for compensation. With the premise of college athletes getting paid over and above their scholarships as a backdrop, I thought it would be interesting to explore the actual financial details of the annual debate: Should college athletes get paid to play or should their free education be enough?
In order to analyze my question, we have to convert the “true” financial benefit of an athlete’s full scholarship into a real world comparison. Based on the College Data website, the 2012-2013 moderate cost for an in-state public college education averages roughly $22,260 per person annually, with private college averaging roughly $43,290. The numbers include the cost of tuition, fees, housing, meals, books and school supplies, which I believe are reasonable estimates to use in analyzing the following questions.
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Andy graduated from the University of Alabama-Birmingham with a B.S. degree in Accounting. He is a Registered Investment Advisor Representative of Money Management Services, Inc and holds the designations of CPA (Certified Public Accountant), AIF® (Accredited Investment Fiduciary), CTS™ (Certified Tax Specialist), and WMS (Wealth Management Specialist). As an advisor, Andrew specializes in comprehensive financial planning, estate tax planning, personal taxation planning, retirement income distribution planning, wealth accumulation, personalized portfolio management, and fiduciary investment management services.