In my humble opinion, this is a disaster waiting to happen. We will be robbing Peter to pay Paul.
First, what makes you think 12,000 people are willing to pay $500 a month to the NIL Initiative but we never got close to that many spending that amount or less for the scholarship fund? I would rather have those 12,000 giving to the MGSF that would benefit all players and not just those that choose to play football and men's basketball.
Second, I still believe their is great value in what these young student-athletes receive in the form of free education, free books, free living, free food, free healthcare, free tutoring, etc. in exchange for them putting on the uniform of our university and performing to the best of their abilities.
What Texas Tech, SMU and other schools that are putting together similar programs are doing is circumventing the original intent. Is it their fault? No, this falls squarely on the NCAA for unleashing this stupid program with zero guidelines. The majority of these kids aren't making money off of their name, image or likeness, they are just getting paid to suit up and be a part of the team.
Agreed and I'm far from an old man. This is a very slippery slope we're headed. P5s have been known to throw serious cash at big time prospects such as nice cars and even houses for the parents. What stops a program from offering a big recruit they don't have room for a "walk-on" opportunity with enough NIL to cover tuition and then an extra 50k per year? They'd get a big recruit without spending a scholarship. I guess that could happen regardless but man, they need to get this under control.