McElwain's $7M buyout to fund CSU athlete stipends

Quality of life for student-athletes at CSU just made a big step forward, and they can thank former football coach Jim McElwain for it.

Colorado State University announced Wednesday that it would begin providing cost-of-attendance stipends for student-athletes on scholarship beginning in the fall, thanks to legislation passed by the NCAA that allows schools to do so.

This stipend is in addition to athletic scholarships. It will provide an in-state student-athlete on full scholarship an extra $2,400 per year, and $3,100 per year for out-of-state athletes.

Full scholarships cover tuition, books, fees and room and board. The cost-of-attendance stipend helps take care of expenses related to cellphones, laundry, school supplies and transportation.

In total, the stipend is expected to cost CSU $654,000 for its allotment of 214.1 scholarships.

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Where is CSU, with an athletic budget that ranks in the bottom half of the Mountain West, coming up with this extra funding?

The $7 million buyout the University of Florida is paying CSU over the next six years for hiring away McElwain back in December. Athletic director Joe Parker told the Coloradoan he expects McElwain's buyout to cover cost of attendance at CSU for the next three to five years.

Beyond that, the school will look at other revenue streams to help the funding, including ticket sales and donations, but no future plan is set in stone.

"Everyone is trying to manage some solution related to cost of attendance. Some schools have been able to provide a more definitive response, but there's going to be variability, that's just the way it is," Parker said. "Cost of attendance is a figure established by each university uniquely through their financial aid office; it's established through federal guidelines."

University of Colorado spokesman Dave Plati told the Coloradoan the school will provide $3,294 for in-state student-athletes and $3,970 for out-of-state, though no concrete figures had been established. According to a Sunday report by the Wyoming Tribune Eagle, Utah State's stipend will be $3,720 and Wyoming's is set at $3,240. Estimated stipends from Boise State and Fresno State are $5,100 and $3,500, respectively.

Working with input from student-athletes, Parker said the stipend is likely to be issued in monthly installments. Scholarship athletes receive money for housing at the beginning of each month, so being able to provide them with a stipend mid-month will keep their pockets from being empty. In addition, it helps alleviate the stress of student-athletes finding summer jobs.

"For the majority of sports, we're supposed to be working out, taking classes. With the athletic and academic responsibilities, it's tough to have a job. I've personally never had a job and I know a lot of my teammates haven't, so this is a big help," said Joe De Ciman, a senior guard on the CSU men's basketball team. "It's exciting, but the first thought that comes to mind is (president) Tony Frank and his support of athletics. And (former interim AD) John Morris, Joe Parker and even (former AD) Jack Graham who set a great standard for CSU athletics."

Football, men's basketball, women's basketball, volleyball and tennis are the full-scholarship sports at CSU. Sports that offer partial scholarships — soccer, men's and women's cross country, men's and women's track and field, men's and women's golf, softball and swimming and diving — will receive a percentage of the cost-of-attendance stipend equal to the percentage of a full scholarship they receive.

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Covering athletes' cost of attendance has been a point of contention in college athletes for years and in January, the NCAA passed a ruling allow schools to add the stipend to scholarships. The ruling was brought forward by the Power 5 conferences -- the Big 12, Big 10, Pacific 12, ACC and SEC -- and schools participating in other leagues could opt in. CSU doing so will help keep it competitive in recruiting.

"It's definitely a topic of conversation that parents ask in the recruiting process. Even if they don't fully understand what it encompasses, they've heard about it," said Ross Hodge, assistant coach and lead recruiter for the CSU men's basketball team. "To be able to say 'yes, we're doing cost of attendance,' doesn't put you at a disadvantage where another school could do something for the student athlete that you can't.

"It's obviously a tremendous benefit in the recruiting process, but the most exciting part is that you get to take care of your own. You get to take care of your student-athletes once they get here and are already in the fold."

McElwain's buyout of $7 million wasn't paid to CSU as a lump sum. The University of Florida Athletic Association is paying $3 million over six years; McElwain is responsible for $2 million and CSU will receive the final $2 million for playing a game in Gainesville between 2017-2020.

Cost of attendance is scheduled to be a major topic of discussion at the Mountain West presidents meeting later this month.

For insight and analysis on athletics around Northern Colorado and the Mountain West, follow sports columnist Matt L. Stephens at twitter.com/mattstephens and facebook.com/stephensreporting.