Carino: How is Seton Hall handling cost-of-attendance stipend?

[Halldan1]

The college sports year is underway, and so is a fascinating subplot: How are schools handling the newly allowed cost-of-attendance stipends?

Seton Hall’s answer:............

http://www.app.com/story/sports/college/2015/08/26/seton-hall-cost--attendance-stipend/32379653/

 

[knowknow456]

Shouldn't the conference be involved? I would think one set number for all schools per sport would keep the playing field level

 

[shupat08]

knowknow... I believe the point is to make the playing field "NOT" level.

 

[jcalz88]

do not think for a second Willard wont say Prov will give you less money.

 

[knowknow456]

We certainly cannot control what the other conferences do, but i think within the conference we should present a unified front.

 

[SPK145]

We certainly cannot control what the other conferences do, but i think within the conference we should present a unified front.

Conferences can't be involved, it's based on individual schools and what they have previously reported to the feds.

 

[knowknow456]

Conferences can't be involved, it's based on individual schools and what they have previously reported to the feds.

Excellent, some facts to work with. Can you elaborate on how it works? Are you saying the Seton Hall amount (and every other school's amount) is arrived at mechanically and with sufficient information, I could calculate it myself?

 

[Burnsly]

Is this for only scholarship athletes or walk-on's too?

 

[hallgrad80]

Conferences can't be involved, it's based on individual schools and what they have previously reported to the feds.

SPK
It's my understanding that the federal government tracks and provides guidance on what each individual school provides in the way of stipends but the amount is in the sole discretion of each individual school. The reason the Feds are tracking the numbers is because of anti - trust concerns that have been raised.

Where the abuses may arise is in the formula that schools use to determine what the true cost of attendance is to base their stipend on and that issue is starting to emerge as schools look to gain an advantage in recruiting by being on the high end of the stipend pool.

 

[Stevie_H]

Conferences can't be involved, it's based on individual schools and what they have previously reported to the feds.

I recently had the opportunity to listen to some very knowledgeable people talk on the subject. This, especially the bold print, is an important point. I am not informed enough to get into the details, but the major point is a school can't merely name their own number. The feds are part of the equation. I really wish I remembered more in detail. The discussion on how/when the money will be distributed and what, if any, education and oversight on how the athletes spend it was interesting...and scary.

 

[Stevie_H]

Where the abuses may arise is in the formula that schools use to determine what the true cost of attendance is to base their stipend on and that issue is starting to emerge as schools look to gain an advantage in recruiting by being on the high end of the stipend pool.

See Bama, Ala. I find it just shocking cost of attendance at Alabama recently increased. Saw this one coming down Broadway hailing a cab. http://www.al.com/alabamafootball/index.ssf/2015/07/how_alabamas_cost-of-attendanc.html

Ideally, the stipend would be standardized, but this is the NCAA and I used the word "ideally"...so I'm the idiot. Here come the shenanigans.

 

[bobojcd]

Why on Earth would Georgetown agree to give the same amount as SHU when the can afford much much more? Naive to think conference-mates are going to play nice on this, as someone already said;

I believe the point is to make the playing field "NOT" level.

 

[Halldan1]

Little doubt this figure, which can changed yearly will be bumped next season.

 

[Section112]

Welcome to the wild west! This is going to be interesting and expensive for schools no doubt. The fact that there is not a uniform way or even formula for doling out these additional monies is going to lead to further problems for sure. Ridiculous!

 

[shupat08]

Fictional scenario which I'm sure will never happen at any of the 351 D1 schools in coming years:

"Our wonderful boosters dropped off this brand new, paid off car for your mom... Oh and we'll legally pay you 5K per year to play for our school. Please sign here."

 

[Stevie_H]

Little doubt this figure, which can changed yearly will be bumped next season.

Based on my back of the envelope calculation, we should see a slight increase next year.

Cost 2016-17
Tuition/Fees $24,000
Room $10,000
Board $7,500
Books $2,500
Transport $5,000
Misc $15,000
Loan Fee Est. $400
Fee Fee $12,000
Total Cost $76,400
Total Stipend $11,500

Don't bother fact-checking this. I rounded numbers off to make it more digestible in post form, but I assure you it's all legit. I am an experienced finance executive. My work as CFO of Enron is legendary.