Since July 2021, student athletes have had the legal right to earn money from their name, image, and likeness — through endorsements, social media, appearances, training camps, and more. The House settlement expanded this further to include direct revenue sharing from universities themselves. That means real money, arriving faster than most families know how to handle it.

NIL income is not a scholarship. It is not a gift. It is taxable self employment income that requires a plan, a structure, and someone who knows what they are looking at. Most families find that out at tax time — when it is already too late to do anything about it.

The other thing most families do not understand is that NIL is a window, not a salary. It is tied to eligibility, performance, and brand value. Every one of those things is temporary. The families who treat NIL income as spending money without building a structure underneath it are the same ones who end up in financial distress within five years of the career ending.