The Need For Financial Literacy With NIL.

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Beginning in 2022 NIL (Name, image and likeness) deals have burst on to the scene since student athletes have been able to profit off of their name. I am now curious to understand how this has affected student athlete’s education on the topic, and on their finances in general.

One of the biggest debates in college sports in the past decade was, “should we pay our student athletes”, and after years of debate the athletes are finally getting their money. The term NIL is a household term, but does the average person know the impact it’s having on the average student athlete. Student athletes have been thrown into a world of the unknown known as NIL, and they have no idea how to handle it. Many college students aren’t given or know of available financial lifelines at their prospective colleges, and colleges aren’t doing a good enough job to make these resources known. Athletes need counselors and people to go to for financial advice, since they have various factors working against them as athletes, students and young adults. How then can design create easier lanes of conversation between those that have knowledge and those that don’t?

Source

Curcio, B. (2024, June 24). The need for financial literacy with nil. Forbes. https://www.forbes.com/sites/yassprize/2024/06/21/the-need-for-financial-literacy-with-nil/