The NCAA disbursed today $200 million in additional financial assistance to member schools to support programs that benefit Division I student-athletes in their academic success, life skills, career success, health and safety, and student-athlete-focused diversity and inclusion initiatives.
In recent years, Division I made numerous changes to provide additional support for college athletes. However, those changes also increased the cost for many programs.
In March 2016, the NCAA Board of Governors approved a one-time distribution of $200 million to Division I schools from a liquidation of an NCAA quasi-endowment. Athletics departments can use the funds, for example, to create endowments that directly support students, to launch financial literacy and mental health programs, or to expand academic advising and tutoring resources. Additionally, uses can include funding for scholarships up to the full cost of attendance, four-year guaranteed scholarships and unlimited meals and snacks for athletes, all of which have been approved in Division I in the past three years.
The funds, deposited into Division I members’ accounts, are distributed based on the number of students receiving full athletics scholarships, providing the most support to the schools that have the largest populations of student-athletes. These funds are in addition to the $560 million that Division I members will receive as part of the NCAA's normal annual distribution.
Each member school must submit a plan for the intended use to the NCAA national office. Once schools receive approval from the national office, the funds may be spent and random audits by the NCAA will be completed to ensure the funds are accurately accounted.