Day 8 - National Letter of Intents

This morning, Kim had told me that the night before, the athletic department held a financial workshop for its student athletes. A Meryll Lynch representative spoke for one hour about the basics of an IRA, Roth IRA, and 401K. About 7 student athletes attended. This was a very interesting topic to have discussed with Kim. I was telling her that as a young individual, I was introduced to the basics of personal finance at the age of 23 and I was glad that I knew that information very early on. We agreed that there are no resources for young adults to learn about this information in schools the only thing that is taught are finances related to the corporate world. Kim discussed briefly on how she was able to properly finance her life and education from a young age.

Kim sent me off to Ben with a few National Letters of Intent. I was to learn the process of NLIs and how student athletes are able to get signed and granted aid. Upon receipt of the NLI, the athletics department is to review and email the form to the financial aid office. From there, financial aid has 7 days to sign the form and return it to the student who then would have 24 days to sign and email the final acceptance back to financial aid and then the CCAA conference. Prior to any of this, Ben did have to look up each student to ensure that they were in compliance with NCAA eligibility and then the form was passed to Alissa to double check their eligibility with the university.