The ability to secure grants and loans is irrelevant. What we're talking about here is if there's a practical way to compensate athletes who are generating revenue for their school.
When it comes to "compensation" for student-athletes, the following data (
MORRIS: No need to pay college athletes | Ron Morris | The State) indicate that the ability to secure Pell Grants most definitely is germane:
"
Qualified athletes receive up to $5,645 per year [in Pell Grants], money that is deposited in their bank account by the federal government. The money can be spent any way an athlete chooses. Some send a bulk of the money home for family needs. Others use it to make monthly car payments. Still others use it for spending money. . . . The neediest athletes are taken care of through Pell Grants and do not need the extra stipend that many coaches have proposed.
Pell Grants are distributed based on the annual income of an athletes family. The lower the income, the higher the grant. USC athletes collected $202,261 in Pell Grant money during the 2009-10 school year, $193,450 in 2010-11 and $262,069 in 2011-12. At Clemson, the average Pell Grant given to an athlete was $2,331 in 2009, $2,365 in 2010 and $2,374 in 2011. Football and mens basketball accounted for 51 percent of the Pell Grant recipients in 2009 at Clemson, 54 percent in 2010 and 53 percent in 2011."
As this columnist points out, "
most fans of college sports do not know that the NCAA [also] allows for additional help to athletes through its Student-Athlete Opportunity Fund, which is intended to provide direct benefits to student-athletes or their families as determined by conference offices. The SEC distributed an average of $342,197 to each SEC school through the fund in 2012-13, up 16 percent from the previous year, according to a report on al.com that was based on the conferences federal tax return. Some of those benefits include coverage of non-athletics related health expenses not covered by an athletes insurance plan (dental or eye glasses, for example), travel expenses for an athlete to attend funerals or family emergencies, and a $200 annual clothing allowance."
With respect to our beloved University of Tennessee,
100 out of 353 athletes on partial or full scholarships, as of 2002, received Pell Grants totaling $271,277 (
Pell Grants given to all qualifiers regardless of athletic scholarship | TheCabin.net). That amount almost certainly has increased significantly in the intervening years.