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NCAA approves $200 million distribution to schools for athletics

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The NCAA announced Thursday that it was giving a rather large financial distribution that will be used to support new programs that benefit student-athletes.

It's a distribution of $200 million going to 'only' Division I schools and must be used explicitly for programs that benefit student-athletes. With around 350 D-I schools, that's around $500-600K per school based on my C+ math skills. Among the uses that this money can be used for include scholarships up to the full cost of attendance, unlimited meals and snacks for athletes, financial literacy and mental health program, and academic tutors among other areas.

The NCAA catches a lot of heat for raking in so much money at the expense of athletes, so it looks like this is a way of giving some of it back to help make athlete's college life a little easier to manage.

Here's an excerpt of the announcement, which can be fully read here.

The NCAA Board of Governors approved a one-time supplemental distribution of $200 million to Division I schools, which must be used explicitly for programs that benefit student-athletes.  Athletics departments will be permitted to use the funds to create endowments that directly support students, to launch financial literacy and mental health programs, or to expand academic advising and tutoring resources, for example.  Additionally, uses can include funding for scholarships up to the full cost of attendance, four-year guaranteed scholarships and unlimited meals and snacks for athletes, all of which have been approved in Division I in the past two years.

The funds, which will be disbursed in spring 2017, will be distributed based on the number of full athletics scholarships, providing the most support to the schools that have the largest populations of student-athletes. These funds are in addition to the normal annual distributions to members.

"This is an important time for college athletics, in which our schools are finding new and innovative ways to support student-athletes," said Board of Governors chair Kirk Schulz, the president at Kansas State University. "But we are mindful that these programs come at a cost that can strain schools' budgets. So the decision to provide this one-time funding to the Division I membership will help schools through this transition and shows our continued commitment to student success."