Does your child play a sport or sports? Ever have the thought of that sport helping to pay for their college education? Most parents would welcome the opportunity of a sports scholarship. It is important, however, to understand the reality of these awards and balance the likelihood of an award with your child’s enjoyment of the sport. AOG Wealth Management, your expert in financial matters such as estate planning, shares helpful facts about athletic scholarships.
They Are Not Easy to Get
Only 2% of all high school athletes receive scholarships to a National Collegiate Athletic Association or NCAA school. Based on the competitiveness of these awards, teenage athletes should not prioritize sports over studies in the hopes of receiving athletic scholarships. NCAA statistics show that 56% of the athletes competing at Division I schools receive scholarships. This includes some of the nation’s largest brand-name programs. Meanwhile, 61% of athletes at Division II schools receive athletic assistance.
Not All Sports Scholarships are Full Rides
Only six sports in Division I offer full coverage on all expenses, which includes tuition, other fees, lodging, and the mandatory course-related books. These six sports are football and basketball for men, basketball, tennis, gymnastics, and volleyball for women. Athletes can either get a full-ride scholarship or none at all.
While chances of a scholarship may be slim, proper asset management through financial planning experts can help you send your child to college and reduce the worry around how to pay for it. Our expert team at AOG Wealth Management can help.
Other Colleges Offer Alternative Aid
Division III schools offer financial aid and merit scholarships to help parents with their college expenses. Division III encompasses 444 schools, including elite institutions like the University of Chicago and the Washington University in St. Louis. Ivy League Schools are included in Division I, but not all of them provide athletic scholarships.
AOG Wealth Management can provide professional asset management services to help you prepare for all financial matters, from preparing for your child’s college years to tax planning. Call us today at (866) 993-0203 for a complimentary consultation.
The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.