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

[Guest]

 

 

http://mweb.cbssports.com/ncaaf/writer/jon-solomon/25249355/alabamas-cost-of-attendance-stipend-will-rank-among-highest-in-nation

As a comparison, it looks like we will be competitive with the SEC as far as COA goes which is nice to know IMO.

 

Is Houston poor?  What the hell is up with Memphis?  Where are they getting this money from?  

 

...and the bidding war begins.  Interesting that UCF and Uconn have not posted.  Perhaps they were waiting for everyone else to do so before dropping their numbers.  

 

 

COA is based on a formula from the Federal Government for financial aid... and it's actually the same for every student (not just student athletes).

 

Just because Alabama has a crap-ton more money, doesn't mean they get to say their COA is $50,000 for football when it's not that high for a 40-something woman going back to get her degree.

 

At least that part makes the P5/G5 difference irrelevant.

 

 

So you dont think that COA is going to magically go up for certain schools?  Thus increasing stipends?  If it is the same across the board then why are schools paying out different amounts?  

 

 

No, it cannot just "magically" go up because it would affect every student and the financial aid they get (Pell grants, Stafford loans, etc).

COA is not for athletes ONLY.

It has to do with the various living expenses in the city/town where the college is located... which is why USF is higher than LSU, because Tampa is more expensive than Baton Rouge.

[Guest]

 

 

 

 

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.

 

 

Since $4500 is below the individual deduction... even if the income is listed as taxable, since these players will be earning almost no other income, chances are they pretty good they will not be having to actually pay taxes.

[slick1ru2]

Now EA SPORTS needs to make their college football game again with profit sharing.

[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.

 

 

Since $4500 is below the individual deduction... even if the income is listed as taxable, since these players will be earning almost no other income, chances are they pretty good they will not be having to actually pay taxes.

 

 

 

Agreed, but your original statement was that the stipend would NOT be taxable.

 

I think we have all come to agree that there will be little tax(if any) paid on the income.

[Bear]

I'm glad the kids are getting paid.

 

 

however, it's a bandaid to a much larger problem in College Athletics

[Brad]

Do tattoos vary that much by region?

[DELdaBull]

Per year or semester?

[WWMJD]

Year.

[GoBulls84]

Now EA SPORTS needs to make their college football game again with profit sharing.

Agreed

[ArmyBull]

 

Now EA SPORTS needs to make their college football game again with profit sharing.

Agreed

 

 

Can EA wait until we are not going to be listed as a one star program in game?  Perhaps if they hold off a few years we won't be listed at the bottom of the AAC in team rating.