I came across an article in one of my investment newsletter, The Alert Investor, that I thought I should share. This is a March story titled "Banking on a Sport's Scholarship?"
"Hard work pays off, right? That might often be true in the figurative sense, but may not in the literal sense when it comes to college sports scholarships for the vast majority of parents who spare no expense on training camps, coaching and gear for their children over the years."
"Hard work pays off, right? That might often be true in the figurative sense, but may not in the literal sense when it comes to college sports scholarships for the vast majority of parents who spare no expense on training camps, coaching and gear for their children over the years."
“The myth is that if you put in a lot of time when you’re young into a sport, there will be a payoff in the end,” said Wolverton. “We were surprised to see how little payoff there really was for most athletes.”
"Of the nearly 8 million U.S. high school students currently participating in athletics, only about 480,000 of them—or about 6 percent—will compete in college, according to the National Collegiate Athletic Association (NCAA). Of those, only about 150,000 will receive any kind of athletic scholarship, or just under a third of college athletes, according to the NCAA."
Our son swam at DIII Wittenberg University and being DIII did not earn a dime athletically even though he holds two school records. Our daughter who owns 5 Lewis Cass records in track runs at a Top Ten DII school, the U. of Findlay. She will not earn a dime athletically as she does not contribute in a significant way. She loves her teammates and feels it is worth the effort to practice and be dedicated to her teammates.
4. The Payoff Is Most Likely Minimal
Often, a partial scholarship might only cover the costs of books, which cost an average of just $1,250. Meanwhile, the average cost of in-state tuition, room and board at a four-year public school was $24,610 in 2016, according to the College Board.
“There’s not a whole lot of money to be given out in major college sports,” Wolverton said. “It should be a wake-up call to people pouring all kinds of money into their athletic development.”
7. Even Without Sports Scholarships, Division III Has Its Benefits
Division III sports programs may also have “far more” reasonable demands on an athlete’s time, Wolverton said. “You can play a college sport, not give up your whole life for it and end up in almost the same financial place,” Wolverton said. “If you take off the blinders of needing a Division 1 scholarship, your kid could be a lot happier if they’re not in a D1 program anyway.”
Both of my children earned large financial aid package based on grades. Jared ended up somewhere around $90,000 in assistance over four years, and Claire will be around $75,000. Every single dollar is for academics. Not a penny for athletics.
"Of the nearly 8 million U.S. high school students currently participating in athletics, only about 480,000 of them—or about 6 percent—will compete in college, according to the National Collegiate Athletic Association (NCAA). Of those, only about 150,000 will receive any kind of athletic scholarship, or just under a third of college athletes, according to the NCAA."
Our son swam at DIII Wittenberg University and being DIII did not earn a dime athletically even though he holds two school records. Our daughter who owns 5 Lewis Cass records in track runs at a Top Ten DII school, the U. of Findlay. She will not earn a dime athletically as she does not contribute in a significant way. She loves her teammates and feels it is worth the effort to practice and be dedicated to her teammates.
4. The Payoff Is Most Likely Minimal
Often, a partial scholarship might only cover the costs of books, which cost an average of just $1,250. Meanwhile, the average cost of in-state tuition, room and board at a four-year public school was $24,610 in 2016, according to the College Board.
“There’s not a whole lot of money to be given out in major college sports,” Wolverton said. “It should be a wake-up call to people pouring all kinds of money into their athletic development.”
7. Even Without Sports Scholarships, Division III Has Its Benefits
Division III sports programs may also have “far more” reasonable demands on an athlete’s time, Wolverton said. “You can play a college sport, not give up your whole life for it and end up in almost the same financial place,” Wolverton said. “If you take off the blinders of needing a Division 1 scholarship, your kid could be a lot happier if they’re not in a D1 program anyway.”
Both of my children earned large financial aid package based on grades. Jared ended up somewhere around $90,000 in assistance over four years, and Claire will be around $75,000. Every single dollar is for academics. Not a penny for athletics.
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