Financial Agreement Terms
- Cost of attendance: It includes the total cost of tuition, fees, room, books, supplies, transportation and other expenses related to attendance at the school.
- Counter: A Student-Athlete who is receiving institutional financial-aid that counts toward the maximum financial-aid limitations in a sport.
- Full grant-in-aid: Consists of tuition, fees room, board and required course-related book.
- Initial Counter: A counter who is receiving countable financial aid in a sport for the first time.
- Institutional Aid: All funds administered by the school. Including any aid from the government or private sources if the school is responsible for selecting the recipient or determining the amount of aid.
- Period of Award: Starts on the first day of classes or the first day of practice, whichever is earlier. Usually ends the last day of the semester or quarter. (Make sure it is set forth in the financial-aid agreement.) The grant-in-aid may not be awarded for more than one academic year.
Know the type of scholarship being offered
- Head Count Most of these are full rides because even if the athlete receives a partial they count as one of the heads toward the maximum limit.
- Equivalency Usually partial offers based on the percentages so that the overall team limit can be accurately tracked and determined. (Example a school will offer you 30 percent.)
Understanding Negotiating Rules
- The negotiating process occurs yearly because athletic scholarships are renewed each year.
- A full scholarship is the most you can receive.
- Every off season you can negotiate with your coach to receive more financial-aid.
Understand what you are signing
- This is a legally binding document when signed by you the athletic director and director of financial-aid at the school.
- Before signing - know what the school is offering.
- Make sure you know what the scholarship is covering
- Once signed and returned the value of the scholarship can be increase before the beginning of the school year but not reduced without just cause.
Reasons for more Athletic Aid
- Another school is offering a high percentage.
- I play a skill position and deserve more.
- You said I will be a starter and help the team.
- I'm an out of state player so it will cost me more to come here.
- I am a local player who is well known in the area.
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