Since the advent of NIL has made everything about contracts… why can’t a college insert a clause in the scholarship that results in a heavy fine if a healthy athlete skips out? The school has been paying for the education for 4+ years and should be entitled to some restitution. Granted, NIL comp exceeds many scholarships but it shouldn’t be so painless to screw over your alma mater.
I agree. I think when a recruit commits and signs he is in a sense making Promissory Note or Contract with the University. The agreement is more of a goods for services than financial. School will supply - education, housing, medical, nutrition, IT (laptops, cable, internet), tutoring….etc. Student Athlete agrees to maintain a C average and play to the best of their ability
You look at leaving outside of family issues need the student closer to home, completing graduation or due to lack of playing time…..The player will need to possibly have their NIL give some $$$$ to the university or maybe a charity
What Is a Promissory Note?
A promissory note is a
debt instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on-demand or at a specified future date. A promissory note typically contains all the terms pertaining to the indebtedness, such as the principal amount, interest rate, maturity date, date and place of issuance, and issuer's signature.