College athletes need personal finance education

More college athletes, not just those who turn pro, are starting to make money. In June, the Supreme Court narrowly ruled in favor of college athletes, saying that as of July 1, they can benefit educationally from their prowess on the field. This is a blow to the NCAA, which claims its commitment to amateur sports is under threat.

Additionally, it may not be long before the Supreme Court joins a majority of states that are passing laws allowing college athletes to be compensated for the use of their name, likeness or likeness.

Many of the state bills include requirements for college student athletes to take a personal finance course, an eminently sensible idea, given the likelihood that athletes will suddenly have more money to manage than ever before. With the stroke of a pen, the NCAA can and should begin to encourage personal finance courses and ensure that all athletes in all states take them in high school.