MoneyMoments Classroom Videos

With Name, Image and Likeness (NIL) legislation sweeping through states across the nation, college athletes can now earn money from activities like endorsements, social media posts and appearances without breaching NCAA rules.

Many college students receive no guidance on even the most basic budgeting skills, and now that student athletes can face contract negotiations, incur tax liability and make financial decisions on substantial amounts of money, the need for extensive education on personal finance and contract terms is paramount.

While a handful of student athletes will earn six figures or more in NIL income, the majority will earn just enough to provide some financial breathing room if handled responsibly, or to cause a financial downfall if not. The consequences of that money mistake can be far reaching. The NIL income could put them over the need-based income threshold and jeopardize the financial aid they rely on to remain in school, or it could create a tax liability they are unaware of or unable to pay.

MidFirst MoneyCoaches implemented a special outreach to provide much-needed financial education and guidance to University of Oklahoma student athletes, from basketball to gymnastics to rowing. Our goal is to help student athletes understand the financial implications of their earnings, prepare them for making strong money decisions, and perhaps most importantly, surround them with trusted mentors who support them as they navigate the road towards their careers, whether on or off the field.