NIL presents an intriguing landscape for college athletes. While top schools and athletes are eager to take advantage of it and generating income is crucial, there are also significant challenges involved.
Some college football players earn more than professional athletes, leading to a level of confusion. This situation particularly affects many elite players, and without a strong support system, it can complicate matters for everyone involved.
Renowned programs like Georgia have taken the necessary steps to assist these young student-athletes. The Bulldogs, in particular, excel in leveraging NIL opportunities, largely due to Kirby Smart’s success in establishing a national powerhouse.
Despite facing criticism for his players’ actions over the past two years, Smart is committed to educating them. According to Thomas Goldkamp of On3, Smart revealed that Georgia offers financial education programs for student-athletes.
“There’s not a program in America that’s worth a dime that doesn’t have that,” Smart stated during an SEC teleconference. “We have programming in place for players, similar to what the NFL provides. This includes financial education, managing social media pressures, and dealing with the scrutiny that comes with being a football player related to NIL. The pressure these guys face is often underestimated.”
For many of these players, their earnings exceed their parents’ lifetime income, highlighting NIL’s significance in transforming their lives and those of their families.
Given the sacrifices families make to enable their children to reach this level at Georgia, it’s remarkable that these young athletes can provide financial support. However, navigating this responsibility at such a young age—18 or 19—is challenging. Smart acknowledges the substantial sums they are earning and how unprecedented this situation is.
“They’re the primary earners in their families for about 50-60% of our team,” he noted. “They must handle financial responsibilities, sending money home to parents and supporting siblings—all at ages when most are still figuring out life. It’s tough terrain for kids.”
While NIL can be difficult to manage at times, Smart is dedicated to ensuring that his players are adequately prepared.
