USF football players will get a $4,500 CoA stipend in 15-16

[Fold FB Invest in BB]

Give me $2000 in 20s, $500 in 10s, $500 in 5s and $1000 in 1s and tell me you'll drop me off on N. Dale Mabry, you know I'm picking USF.

[smazza]

about time these kids get some dough

[DELdaBull]

Give me $2000 in 20s, $500 in 10s, $500 in 5s and $1000 in 1s and tell me you'll drop me off on N. Dale Mabry, you know I'm picking USF.

Brilliant

[Mama_Bull]

While attending USF to obtain his master's degree, my son was a TA, and received a stipend of $200.00 per month to help defray costs.  

 

I hope that the stipend a player receives will be given incrementally rather than in one shot.  For the most part, I think kids (with money to burn in their pockets) don't think ahead.  

 

While some may disagree with student athletes being given this money, the fact remains that most of them can't take part-time jobs to off-set expenses, due to the amount of time they are required to train, etc. while engaging in their chosen sport, plus whatever restrictions the NCAA puts on them.

 

The stipend is now a fact of life.  If given out monthly at the maximum rate indicated, it breaks down to $375.00 a month.  Not a great amount, but it gives them a little spending money.  

[Bull-Hornz]

Agree with Mama and....smazza?! ;-)

Not only can they not take other jobs, but during the regular season, its extremely difficult to focus on classes which directly affects their education. IMO CFB is a minor league and I would guess most players believe this is there opportunity to 'make it'. Fact of the matter is if your playing at this level you most likely have stood out as an athlete all your life...unfortunately I think uni's rake in lots of cash at their expense and players get very little in return...but that's just my opinion.

[fla331boy]

 

is it taxable?

 

No... it's "financial aid" ... as long as they remain "student athletes" and are not classified as "employees" (see the Northwestern NLRB case)

 

 

 

It may be treated as financial aid but it WILL be taxed. 

 

The university will be able to withhold the taxable portion of the stipend to assist the athletes if they choose to do so.

 

I'm not sure how you think it won't be taxable, "but I could be wrong(in Carmin's voice)".

 

LINK

[WWMJD]

 

 

is it taxable?

 

No... it's "financial aid" ... as long as they remain "student athletes" and are not classified as "employees" (see the Northwestern NLRB case)

 

 

 

It may be treated as financial aid but it WILL be taxed. 

 

The university will be able to withhold the taxable portion of the stipend to assist the athletes if they choose to do so.

 

I'm not sure how you think it won't be taxable, "but I could be wrong(in Carmin's voice)".

 

LINK

 

 

It might be reportable but unless these kids have significant reportable income coming in from somewhere else (which the vast majority of them do not) it would probably be below the taxable threshold.

[fla331boy]

 

 

 

is it taxable?

 

No... it's "financial aid" ... as long as they remain "student athletes" and are not classified as "employees" (see the Northwestern NLRB case)

 

 

 

It may be treated as financial aid but it WILL be taxed. 

 

The university will be able to withhold the taxable portion of the stipend to assist the athletes if they choose to do so.

 

I'm not sure how you think it won't be taxable, "but I could be wrong(in Carmin's voice)".

 

LINK

 

 

It might be reportable but unless these kids have significant reportable income coming in from somewhere else (which the vast majority of them do not) it would probably be below the taxable threshold.

 

 

This could get messy with tax implications and if it's NOT treated as taxable income, I see the government wanting a piece of the pie.

 

Let's see, the Feds already take what they call an "Origination Fee" on Federal Loans such as Stafford Loans and do absolutely nothing but pass the debt along to a loan servicer such as Nelnet.

 

You can bet they will want a chunk of this extra money.

 

Just my thoughts working within higher education.

[WWMJD]

There's no question the economics of higher education are deeply flawed, but in this case even if it's taxable income it would be no different than someone else earning $4500 a year... end up paying very little if anything in income tax.

[fla331boy]

There's no question the economics of higher education are deeply flawed, but in this case even if it's taxable income it would be no different than someone else earning $4500 a year... end up paying very little if anything in income tax.

 

 

Exactly.