Originally Posted by improbus
Also, if you watched Broke, you might have wondered the same thing I did. Why aren't big time college athletics programs who produce a number of professional athletes teaching these kids financial literacy? For example, I'm a big UK fan. I understand what my basketball program is, and I would hope that the university is doing everything is can to repay these kids. If they won't do it with money (which college sports don't seem willing to do), then they need to give training for the transition from poverty to making a lot of money. Anthony Davis did not need UK to show his basketball skills, but he could have used their preparation for his life after his one year of college. The knowledge of how to deal with money and the shackles that can come with it would be just as valuable as anything he learns on the court.
I found it interesting that there weren't as many baseball players talked about and I think I know why. They have to go to the minor leagues, where most of them have to actually learn to budget their money because they aren't making $1000 a month. Some guys can live off of signing bonuses, but by and large, most of them can't. They have to move through the minor leagues with roommates, living on the cheap. So by the time they are actually making money in the Majors, they have already learned how to budget their money. You don't get that in the NBA or NFL. If you make the NBA or NFL, you immediately start making the minimum, which is about $20,000 a week.
I do think that college should have classes, not just for athletes, but for everyone, on financial responsibility. Heck, I think those classes should start in middle school and you should have them through high school as well.