Premium Essay

Collegiate Payday

In: English and Literature

Submitted By DWaters2016
Words 1172
Pages 5
Devonne Waters
Professor Jessee
27 February 2013
Collegiate Payday
For quite some time now, there has been a big debate about whether or not college athletes should be paid. Some people, like author, Kristi Dosh, believe that a scholarship should be payment enough (Dosh 52). After all, a scholarship can be easily worth $15,000 - $25,000 or more per year, plus a career after college that can be worth a million dollars over a lifetime. Additionally, student athletes receive all kinds of perks while they are in college, like staying at fancy hotels, being seen on national television, and all of the notoriety that goes with being an athlete. It is hard to put a price tag on all of that. However, considering the fact that certain college sports generate millions of dollars for college athletic programs, many people believe the athletes are being used. If the average football scholarship is worth $20,000 per year, yet the university gains $70,000 per year in revenue per scholarship player, the university will profit $50,000 per year, per scholarship player, or $200,000 over a four year period (Spurrier, 12). The NCAA should establish a rule that gives every college athlete a $1,000 monthly allowance, because college athletes cannot use their scholarships to pay for their many expenses.
A story that was told in one of Dr. John Acquaviva’s articles was about a certain player named Roy Finch that spoke out on the topic of college athletes receiving payment. Roy Finch sent out a tweet that said, “I'm tired of thinking it’s time for action....I need to get paid trying to get my money up. School faking on the money so I gotta go get it...." A few months later Roy Finch was in an investigation that accused him of selling his sports memorabilia and his actions of talking to sports sponsors (Acquaviva, 59). The NCAA should pay their athletes, so that events like this will not…...

Similar Documents

Free Essay

Payday Loans Article

...Reserve, with the authority to ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, and other financial products, and protect them from hidden fees, abusive terms, and deceptive practices.” Richard Cordary will target Payday loans first. Payday loans are short term loans that are secured by a future paycheck. The banks typically charge $10 per $100 borrowed for 10 days or 10% every 10 days. The banks claim that this high rate is justified because of the high risk clients. The actual default rate is between 3 and 4 percent. This is because Customers must have checking accounts and must have their pay or benefits check directly deposited into that account. The maximum loan term is 30 days and the maximum loan amount is usually $500. If the direct deposits are not sufficient to repay the loan within 35 days, the bank withdraws the money from the customer’s account even if it overdraws the account, which will also trigger more fees that the borrower must pay. The problem is that customers find themselves in a vicious cycle where they take out a loan to pay for a current expenditure. Then when their paycheck is used to pay off the first loan, a new payday loan is needed to pay the new bills....

Words: 348 - Pages: 2

Premium Essay

Payday Loans

...A payday loan is also known as a cash advance loan. It is a short term loan, which can be obtained for emergency purposes. In order to acquire the loan, one has to have; proof of income, a photo and the pay stubs. A payday loan is a short term loan, that can be obtained by a person who is faced with an emergency that requires immediate cash. The loan is also referred to as a cash advance loan. In most occasions, there are a few prerequisites while applying for this loan. These include: a proof of income, photo recognition and the previous pay stubs. Borrowing this loan needs a personal check that is post dated to be written to the lenders of the payday loan. Basically, the exact terms of the loan are evident in the relevant legal documents being presented by the lender. This indicates the annual interest rates late fees and financial charges. Usually, the date in which this loan is due is similar to the date of the borrower's paycheck. Moreover, this loan is flexible and can allow the borrower to extend the terms of the loan when he or she is unable to meet the payment on the due date. This loan is an excellent option for immediate cash; however, the borrower should have the capacity to repay the loan when the date is due. Payday loans feature late charges and high interest rates. This implies that, the interest accrued may equal and even at times exceed the principle amount borrowed. This may be as a result of unregulated interest rates since the loans are from......

Words: 748 - Pages: 3

Free Essay

Nasal Fracture in Collegiate Gymnast

...Nasal Fracture in Collegiate Gymnast Background: Collegiate female Gymnast, freshmen. While working on a bar routine during practice, she missed the bar in going from the high bar to the low bar, her arms went under the bar, she turned her head to the left and hit her maxilla and nose. She began to bleed from the right nostril. She had pain in her right. She complained of pain on her right cheek, nose and right eyebrow. She was also complaining or a head ach on the right side. She was informed to not take Advil. Differential Diagnosis. After evaluation it was a suggested diagnosis of a Nasal fracture, another diagnosis was a nasal contusion with a possible nasal fracture without obstruction. After meeting with the physician he was stated, “It is broken and your septum is going to need to be realigned.” The physician was very informative and answered any questions that the athlete had about the procedure. Treatment: She had two view X-rays of her facial bones, which revealed slight lucent line through the left nasal bone, which was not present on the right aspect. She also had soft tissue imaging WNL, which came back with no other abnormalities. The athlete has surgery to fix the fracture she will be held out of practice due to swelling and pain. But will slowly work back into activities. After surgery she was not able to sleep a full night and was still feeling very nauseated and had taken medication for that which made her feel drowsy. She stated that “ it is very......

Words: 399 - Pages: 2

Premium Essay

Payday in Persian Gulf

...Payday in Persian Gulf “Our objectives are clear. Saddam Hussein's forces will leave Kuwait. The legitimate government of Kuwait will be restored to its rightful place and Kuwait once again will be free. Iraq will eventually comply with all relevant United Nations resolutions...” George H. W. Bush In order to analyze the Gulf Crisis between Iraq and Kuwait, the factors must first understand which contributed to the conflict. In 1980, Iraq carried out a major air and land attack on Iran. For eight years, the Iran-Iraq War grew more intense, until the U.S. “accidentally” downed an Iranian plane, killing 290 passengers. Some major factors with many others conduce to this war in time: territorial dispute, religious disputes between Islamic moderates and fundamentalists, and more importantly, a personality conflict between Saddam Hussein, Iraq’s president, and Ayatollah Khomein, the leader of Iran. During this war, the U.S. began to provide protection to Kuwaiti tankers, and hence, resulted in military conflicts with Iranian speedboats. Indirectly, the U.S. supported Iraq’s actions in this war. While the U.S. was busy protecting Kuwait, Kuwait supported Iraq financially by giving it more than $10 billion. At the close of the Iran-Iraq War in 1990, Iraq was eager to pay its international debt. But, how? Iraq’s chief export was petroleum. According to Iraq, Kuwait was providing a surplus of oil in the international community by exceeding it assigned OPEC quota.......

Words: 2733 - Pages: 11

Premium Essay

Collegiate Promotions

...I believe that the compensation system at Collegiate Promotions is not an effective system because of the following: a. The compensation structure is straight commission based, and sometimes straight commission based employee’s think of themselves as free agents and they have little loyalty to the organization. Because the employee’s pay is based on how many products they sell, they may act unethically towards the customers and other salespeople in an attempt to become the best salesperson and get top pay. Unethical acts could include lying, cheating, misrepresenting the company, and other deceptive acts. b. With the straight commission based structure, turnover may be high because employees may seek other sales jobs if they are not doing well or if the other job includes a base pay, benefits, or other incentives that the straight commission job does not offer. c. Straight commission jobs may present financial difficulties to the employee because income is so uneven. Take home pay can be high one month, but low the next month if sales is not good. Employees may eventually get tired of the ups and downs in pay and may not seek long term employment with the company. II. Most sales representatives will choose either to sell at the top of the bottom of the price range. a. The following are reasons a sales representative might sell at the top of the range: 1. To obtain the highest commission and take home pay as possible. 2. To differentiate......

Words: 757 - Pages: 4

Free Essay

Payday Lending: Perfunctory or Predatory?

...Journal of Business Case Studies – November/December 2009 Volume 5, Number 6 Payday Lending: Perfunctory Or Predatory? Annie Schafter, University of Minnesota, USA Shee Wong, University of Minnesota, USA Stephen B. Castleberry, University of Minnesota, USA ABSTRACT Payday lenders are becoming more common across America as they meet the unique needs of consumers unable or unwilling to use the services of more traditional lenders. But many have claimed that certain of their practices are unethical. Do payday lenders take advantage of those less fortunate in our society? Are their fees exorbitant, or are the fees merely a fair return given the risk the payday lenders are incurring? This case looks at these and other issues surrounding the payday lending industry. Keywords: payday lending, finance, interest rate, ethics INTRODUCTION I n the last 15 years, cities around America have seen a dramatic rise in the number of payday lending stores open for business. Today there are over 22,000 payday lenders operating in the 39 states where payday lending is legal. To put that number in perspective, there are 13,700 McDonald‟s and 7,300 Burger Kings in the U.S.—simply put, there are more payday lenders than McDonald‟s and Burger Kings combined (Weston). But why? As traditional financial institutions tighten up loan requirements and drop smaller, less profitable loans from their books, payday lenders feel they are filling a substantial need in the communities they serve. They......

Words: 5139 - Pages: 21

Premium Essay

Payday Loans

...Payday Loans: Helpful or Hurtful Joseph Santini Monmouth University I. Introduction There is a new trend in lower income communities in the United States called payday loans. The popularity of getting payday loans to help to pay off utilities and short term debts. These loans have become controversial and brought on speculation of the ethics of the loans and their practices. There has been legislation brought through state senates on this issue but with heavy lobbying have not be able to see the light of day. The tactics of these lobbyists have also come into question. The overall question to be answered is if payday loans are good for this country. II. What are Payday Loans? Payday loans are defined on Investopedia as a short-term loan with a small borrowing amount and a high rate of interest. The way it works is the borrower writes a post-dated check for the borrowing amount plus a fee for immediate cash. The lender keeps the check until the agreed date which is normally the borrower’s next payday. These loans are also commonly called cash advance loans or check advance loans. (Investopedia) These are attractive to lower income community because the loans offer them money right away before they earn it. The feeling of having physical cash in their hands makes them confident in themselves. This system is great if you can pay the debt off quickly but if you take just a small amount of time to pay the loan the debt can pile up. This is because these loans......

Words: 3266 - Pages: 14

Premium Essay

Collegiate Promotions

...Evaluate whether or not the compensation system at Collegiate Promotions is effective. I think the compensation system at Collegiate Promotions is very effective. Collegiate Promotions structures their business around the Sales Representatives, who basically control their own destiny. The Sales Representatives are compensated based on the amount of products they sell. For Collegiate Promotions this strategy works because they are able to cut a lot of their overhead by and increase their sales force. Collegiate Promotion hires these independent Sales Representatives that is able to move their merchandise without the need of funding store fronts which helps them cut cost by removing rent and personnel from their operating cost because the need for those services are gone. This will simultaneously increase their sales because now they have more representatives out there pushing their merchandise without boundaries and all the overhead cost. With compensation in mind because you're in business to make money as a Sales Representatives you have a decision to make. That decision is at what price to sell your merchandise. The 30% to 50% commission is the correct money amount to make on an item using a piece-rate compensation model. The sales representative should be very appreciative about the amount of commissions they will be making on each product. They may see a down side of selling such products during lean times in the marketplace and they may desire a base salary to fall......

Words: 1353 - Pages: 6

Free Essay

Payday Loans

... Payday Loans Executive Summary Payday loans are short-terms, high-interest loans where people go to a physical loan store or via online store that are not banks. They are designed for people who need a quick injection of money before their next paycheck and its purpose is fast, easy money to take care of unexpected bills or emergencies (Watson, Stephanie., 2014). They started around 1959 when the senate passed a bill allowing people to received small amount of money for short-term loans for emergency, such as bankruptcies, bad credit, etc… The bill was to help people who couldn`t receive a regular loan at a normal interest rate. Since then, Payday loans have become very popular and in 1996, Payday lending saw a huge boom when the senate legalized them. In the mid-2000, online lending became available and is now a huge piece of the market (PaydayLoanPay.com., 2011-2014). Recently many controversy have been discussed with the Payday lending industry because of many operating dishonestly and illegally. This huge issue has caused the department of justice to investigate and place restrictions causing many legal and honest operating Payday lending to close shops and employees losing their jobs (Okun, Sarah.). In the meantime, the honest and top Payday lenders have form the Online Lending Alliance (OLA) to defend them and make sure Payday Loans don`t get de-legalized because of cracks in the lending system (Jones, Liz., 2014, March 26). Payday......

Words: 5493 - Pages: 22

Premium Essay

Collegiate Promotions

... Collegiate Promotions Human Resource Mangement/530 Dr. Donny Bagwell Evaluate whether or not the compensation system at Collegiate Promotions is effective After evaluating the case study I have determined that Collegiate Promotions compensation plan is not only effective but aligns with the organization’s competitive strategy. Collegiate Promotions strategy seems to be earning the most profits with the least risk possible. Collegiate Promotions clearly focuses on individuals who are self motivated and excel as sales representatives. Collegiate Promotions focuses on independent contractors as their workforce and way of making profit. By hiring independent contractors Collegiate Promotions actually shifts some of the risk associated with hiring traditional employees such as paying higher wages and benefits. Collegiate Promotion’s compensation plan is considered effective because it benefits all parties, the independent contractor and organization. The independent contractor can usually earn higher wages with commissions than with salary (Brown & Stewart, pp.463, 2009). Collegiate Promotions benefits from the low risk associated with hiring independent contractors and profits. Independent contractors are clearly motivated individuals and understand that their pay depends on their performance in sales. Collegiate Promotions benefits every......

Words: 1388 - Pages: 6

Premium Essay

Collegiate Promotions

...Assessment #5 Collegiate Promotions Strayer University HRM530 Section May 29, 2011 Week 10 Assignment 5 Outline I. I believe that the compensation system at Collegiate Promotions is an effective system because of the following: a. The commission compensation system is an effective system to attract sales people. Sales people who are aggressive tend to favor commission-based pay. Sales people who excel at sales will favor the compensation system because they are willing to accept the risks associated with low sales. b. The compensation system at Collegiate Promotions is an effective system from the employee’s point of view. Employee’s willing to accept the risks of low sales favor commission because it has a major advantage over salary. Commission compensation usually results in higher pay than salary compensation. c. The compensation system is an effective system because the commission range for the sales of novelty goods is up to fifty percent of the sales total. Sales representatives at Collegiate Promotions receive a commission of half the amount charged over the wholesale price. The compensation system at Collegiate Promotions is effective because it does not include a base salary so sale representatives earn fifty percent of the amount charged over the wholesale price. d. The compensation system is an effective system because sales representatives are not employees of Collegiate Promotions. Sales representatives work for themselves and have......

Words: 1195 - Pages: 5

Premium Essay

Collegiate Promtion

...Collegiate Promotions distributes products that are marked to students and alumni of major universities. High-selling products include coffee mugs and T-shirts that bear collegiate logs. In order to distribute its products, collegiate promotions has adopted an independent sales representative model. The sales representatives work for themselves and are not actual employees of collegiate. They have independent contractor status. Becoming an independent sales representative is easy. An interested person pays a $300 fee to obtain catalogs and other literature needed to advertise and sell the line of products. The sales representative then begins to write orders for products. A sales representative can sell to anyone through any channel. This means that there are no protected territories, so several sales representatives are often working in the same geographic locations. Many representatives also sell through internet web sites. Collegiate promotions do not set an absolute price for its products. Instead, it uses a wholesale plus pricing strategy that allows sales representatives to sell within a relatively broad range. The range is normally 30 to 50 percent higher than wholesale. For instance, if the wholesale price of a coffee mug is $10, then the representative can choose to sell the mug at a price anywhere between $13 and $15. The sales representative receives a commission of half the amount charged over the wholesale price. If the mug sells for $13, the representative......

Words: 258 - Pages: 2

Premium Essay

Collegiate Promotions Case

...has a very huge impact on employee attitudes and behaviors, which influences which kinds of employees are attracted to (and remain with) the organization (Noe, Hollenbeck, Gerhart, & Wright, 2011). An effective compensation plan plays a dynamic role in all organizations. When an ideal compensation system is designed, it will have a positive impact on the efficiency and results produced by employees. Evaluate whether or not the compensation system at Collegiate Promotions is effective. The compensation system at Collegiate Promotions is highly effective as it is designed to attract, retain, motivate and reward a quality work force of independent sales representatives. They employ independent sales representatives to achieve more sales, faster, and at a lower cost than other recruiting methods. According to Simon (2010), in today's economy with the rising costs of employee benefits and increasing pressure from international competition, U.S. manufacturers are looking for every advantage they can get. Collegiate Promotions is able to save a tremendous amount of money by alleviating the expenses of employee benefits, compensation and all of the overhead costs associated with recruiting employees. The greatest benefit for this option is that it reduces financial risk for the company dramatically. Since the independent sales representatives work on commission, they are only paid when they complete a sale.  Compensation Master (2011) states that more......

Words: 1353 - Pages: 6

Premium Essay

Collegiate Promotions

...Collegiate Promotions Charity Bailey Professor Garrett HRM 530 March 11, 2012 In this assignment is to evaluate the compensation package the company uses to pay their sales representatives, also compare pay scale of the independent contractors. Next is to review how lack of sales affects the pricing and the behavior of sale representatives. Yes, the compensation system is very effective whether or not independent representative sales anything or not. The company will continue to make money from the product. If the independent sales representative makes enough in sales, the more products the representative will purchase from the company. Compensation is an important factor why people choose to work for an organization. An effective compensation system in an organization is linked to the organization strategies. The three objectives of any compensation system are to attract workers, retain the best employers and motivate employees to help the company achieve its strategic goals. Employers must balance compensation cost that both ensure organization competitiveness and compensate employees. The way collegiate promotions structures their business that independent sales representative determine their own compensation. For collegiate promotions this strategy works because the company is able to reduce their overhead by increase their sales force. The sales representative would sale at the high end of the scale in order to maximize profit. Sale......

Words: 648 - Pages: 3

Premium Essay

Collegiate Promotions

...Collegiate Promotions Collegiate Promotions This paper will take an in-depth look into the sales and the compensation system within Collegiate Promotions. There will be an evaluation of whether or not the compensation system within the company is effective and also a discussion giving reasons why a sales representative would try to sell at both the top and the bottom of the price range. There will be a prediction of whether the most sales are made at the bottom of the range of possible prices and a discussion of the lack of geographically protected sales areas and the affects that it has on a salesperson’s behavior. Finally, this paper will evaluate the commitment of the independent contractors to Collegiate Promotions. Evaluate Whether or Not Compensation System is Effective. I think that the compensation system currently being used at Collegiate Promotions is not effective. The system that Collegiate Promotions is using benefits the employees only if they make a sale, which not only has the opportunity to hurt the employees, but also the company as a whole. This system is what Stewart and Brown calls an at risk pay system, because if an employee is out sick, cannot show up to work for any reason, and/or doesn’t make any sales, then the employee doesn’t get paid (p. 446). This type of system doesn’t provide the employee with motivation or anything to look for in the future, knowing that if they don’t make a sale, then they’re not compensated. With lack of motivation...

Words: 1286 - Pages: 6