Miss. State to provide financial training for student-athletes

(Photo by Streeter Lecka/Getty Images)
(Photo by Streeter Lecka/Getty Images)

Thanks to the SEC Network and the College Football Playoff, SEC schools received a record payout this year of $31.2 million each. Mississippi State is putting those extra funds to good use.

In a blog post on the school’s athletics website, Bulldogs athletic director Scott Stricklin said much of the money will go toward fulfilling cost of attendance for student-athletes. The school has “budgeted $1.4 million next year” to cover these additional scholarship benefits.

“The timing is really fortuitous,” Stricklin said of the revenue increase.

Stricklin said that the school is also using the extra money to add to its support staff. New full-time employees include a nutritionist, another athletic trainer and a life skills coordinator for student-athletes.

The life skills coordinator’s job is to “help students manage their time in college and prepare them for life after school” with things like “putting together resumes and job applications to saving money and using time wisely.”

To help student-athletes have a better grasp of budgeting their cost of attendance money, MSU plans to work with the organization of Dave Ramsey, a financial advisor who has written several New York Times best-selling books.

Stricklin told Sports Day Now’s Chadd Scott that the student-athletes will need to take monthly online classes before receiving part of their cost of attendance scholarships. 

“We want to make sure that they understand the basics of finance,” Stricklin said. “Not that we’re going to tell them what to do with their money, but to make sure they understand how to open a checking account, set a budget and things of that nature.”

For more Mississippi State news, visit BulldogBlitz.com.

- - - - - - -

Sam Cooper is a contributor for the Yahoo Sports blogs. Have a tip? Email him or follow him on Twitter!