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NCAA members have voted to allow athletes to borrow against future earnings to purchase disability and loss of value insurance. Below are the details of the action from an early December Bulldawg Illustrated article.
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In the past schools could obtain loss of value insurance for athletes (including Georgia’s insurance coverage for Todd Gurley) only by using an NCAA fund to pay premiums. That fund was strictly limited and could provide insurance for only one or two key players.
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Under the new proposal players will be allowed to borrow against their future earnings to obtain loss of value insurance. Of course, this proposal will significantly expand the number of pet players who can benefit from loss of value insurance coverage.
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Click Here to See the Complete Proposal Summary
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The other important proposal for consideration at the upcoming convention is cost of attendance legislation. The only real difference between cost of attendance scholarships in the current arrangement is that cost of attendance scholarships will include a stipend to ensure that the athletes scholarship actually meets the cost of attending the institution.
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Further details are available by clicking the link to the NCAA summary document above.