Memphis Announces Cost of Attendance Initiative

The University of Memphis has launched an initiative to provide full cost of attendance for its student-athletes. The action will allow Memphis to continue to compete at the highest level of NCAA Division I Athletics while also continuing a commitment to student-athlete well being.

While athletic scholarships account for tuition, fees and books along with room and board, since 2011 additional expenses for items such as transportation and personal incidentals have been figured by every post-secondary institution, which receives financial aid funding. Each institution must publicly post that figure.

Earlier this year, members of the Atlantic Coast, Big 12, Big Ten, Pacific-12 and Southeastern Conference voted and passed NCAA legislation, which allows for schools to play for student-athletes full cost of attendance. While the legislation does not mandate other Division I conference members to do the same, the American Athletic Conference has supported funding scholarships up to the full cost of attendance. The American has allowed its individual member institutions to determine individually how to implement cost of attendance initiatives.

The University of Memphis has developed a fiscally responsible strategy to approach funding full cost of attendance. Determined by the university's financial aid office, the cost of attendance over a full, athletic scholarship for one year is currently figured and set at $5,373.

Beginning with the 2015-16 academic year, Memphis will provide men's and women's basketball student-athletes on scholarship with full cost of attendance. In addition, student-athletes competing in the head count sports of volleyball, women's tennis and football will be provided a $3000 stipend for the year. Head count sports are those in which the NCAA restricts the number of student-athletes on scholarship. Female student-athletes competing in equivalency sports will receive a stipend which will be a percentage equal to their grant and aid up to $3,000.

The stipend will be provided to the above student-athletes in equal installments throughout the academic year.

Memphis Athletics has coordinated educational opportunities for student-athletes to learn about personal finance and budgeting as recently as this past summer. The department will continue to provide additional opportunities to learn about money management and budgeting throughout the upcoming academic year.

Memphis will be addressing over the next year potential cost of attendance strategies for all student-athletes on scholarship for the 2016-17 academic year.

University of Memphis Athletics

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