F the NCAA

[PortlandHawk]

...but what if a player suffers a career-changing injury while still playing for free?

Like most other loans you can’t repay, you declare bankruptcy or refinance. Hopefully nobody co-signed. It’s no worse than the current situation with college financing.

Edit: you also better actually work towards a degree.

[ousdahl]

the current situation...you mean, try to get that loan via a paper bag slipped under a table?

[ousdahl]

and what's the career prospects really look like for a Communications or African American studies degree?

[PortlandHawk]

the current situation...you mean, try to get that loan via a paper bag slipped under a table?

No, I meant it sounds similar to people taking out loans they can’t afford and that cannot be forgiven to pay for their degree in a low paying industry.

[PortlandHawk]

and what's the career prospects really look like for a Communications or African American studies degree?

Probably not good so they may choose a different path if the system changes. To be clear you would have to allow people to earn money and take loans, just allowing them loans is pretty shitty but not that much worse than how we currently ask people to finance higher education

[NDballer13]

Giving them loans would be worse for the athlete than the current system. The proposed system would allow them to MAKE money based on their current market value. Taking out a loan would make them OWE money based on their projected market value. You guys don't see an issue with that?

[PortlandHawk]

Giving them loans would be worse for the athlete than the current system. The proposed system would allow them to MAKE money based on their current market value. Taking out a loan would make them OWE money based on their projected market value. You guys don't see an issue with that?

To be clear nobody(at least not me) is advocating a loan-only system, BUT I disagree with this. It might be worse for some individuals who fail but clearly some individuals find it valuable for taking care important needs immediately, like the care of their families ie. Cliff Alexander’s parents(I say this half jokingly). He has probably gone on to earn plenty of money enough to pay the interest and more. Clearly the time-value of money is a factor here and it’s fine to loan people money. Not every player is going to get a loan because they seem marginal.

[NDballer13]

And under this new proposal he would be able to help take care of those important needs immediately because he is MAKING money as opposed to borrowing money only to OWE more later.

[TDub]

Low income nom athletes have to take out loans.

[NDballer13]

While being able to earn money to pay them. Would a low income non athlete without any source of income, but working on an African American studies degree be able to get a loan?

Without being racist about it, loans on future earnings target the exact demographic that was discussed in pdub's quest of purity in amatuer sports. Who's more likely to take a nibble, as a 18-19 yr old, at the low hanging fruit of deferred loans, Brady Morningstar or Sherron Collins.

[jfish26]

The athletes should be able to take out loans. They should also be able to get market compensation (taking into account the cool non-cash shit they get, including free education etc.).

It's only hard if you want it to be hard.

[NDballer13]

I agree, they should be able to take out loans. They should be able to be compensated a fair market value. They should be able to have YouTube channels and TikTok accounts.

In other words, let them do exactly what every other person is allowed to do.

It's only hard because the NCAA decides to unnecessarily make it that way.

[Deleted User 310]

Giving them loans would be worse for the athlete than the current system. The proposed system would allow them to MAKE money based on their current market value. Taking out a loan would make them OWE money based on their projected market value. You guys don't see an issue with that?

Sure....but banks would classify these as "unsecured loans". There likely isn't any collateral.

No more risk than if you take out student loans and flunk out of college after 2 years.

[Deleted User 89]

can they not take out actual student loans?

[TDub]

can they not take out actual student loans?

Everythings already paid for, see that bling on garret and dot? Student loans are for tuition, room and board. All of that is already covered by the scholarship.

[NDballer13]

Giving them loans would be worse for the athlete than the current system. The proposed system would allow them to MAKE money based on their current market value. Taking out a loan would make them OWE money based on their projected market value. You guys don't see an issue with that?

Sure....but banks would classify these as "unsecured loans". There likely isn't any collateral.

No more risk than if you take out student loans and flunk out of college after 2 years.

Exactly. No risk for the customer other than a ding on the credit report if they don't pay.
Working in a financial institution I can tell you that no place that is federally insured would give out an unsecured loan to someone that isn't receiving income.

Any 18 or 19 year old kid applying for an unsecured loan for any significant amount of money, based on potential earnings, would get laughed out of the building. Most likely outcome, they suggest a low limit credit card.

[Deleted User 89]

can they not take out actual student loans?

Everythings already paid for, see that bling on garret and dot? Student loans are for tuition, room and board. All of that is already covered by the scholarship.

yes, i get that

but you apply for loans yourself, the school doesn’t do it for you. and there are various dollar amounts you can request per semester, or at least there was when i did it. what’s stopping them from playing the system, so to speak. i know numerous people that took loan money and did a whole lot more with it than pay for school...some were full-ride graduate students with stipends, and we’re still able to apply for, and get substantial student loans

[Deleted User 89]

can they not take out actual student loans?

Everythings already paid for, see that bling on garret and dot? Student loans are for tuition, room and board. All of that is already covered by the scholarship.

yes, i get that

but you apply for loans yourself, the school doesn’t do it for you. and there are various dollar amounts you can request per semester, or at least there was when i did it. what’s stopping them from playing the system, so to speak. i know numerous people that took loan money and did a whole lot more with it than pay for school...some were full-ride graduate students with stipends, and were still able to apply for, and get substantial student loans

[Geezer]

Will this thread ever end?

[Sparko]

Will this thread ever end?

We all know how the tread ends. Like the end of the Bucket Rider. “All we wanted was a scoop of justice and you would not give it to us. And we ascend to the region of the Mountain of Penalties and are lost forever.”