In 2024, Carson-Newman University located in Jefferson City, Tennessee provided $5,585,556 in financial aid connected to athletics, according to the U.S. Department of Education.
The level of athletically related financial aid at Carson-Newman University stayed consistent with the previous year’s amount.
College football is one of the biggest sports in the U.S., with some college teams eclipsing NFL teams in terms of attendance and profit.
College athletics has entered a new era of athlete compensation after a federal settlement allowed schools to directly share revenue with players for the first time. The agreement also requires the NCAA to pay $2.8 billion in back damages over 10 years to athletes who competed from 2016 to the present.
In 2022, after years of legal and legislative pressure, athletes also gained the right to profit from their names, images and likenesses through state laws and an NCAA policy change.
| Institution | Athletically Related Student Aid |
|---|---|
| The University of Tennessee-Knoxville | $21,519,779 |
| Vanderbilt University | $21,485,076 |
| Middle Tennessee State University | $9,649,538 |
| University of Memphis | $8,828,958 |
| Cumberland University | $7,936,396 |
| Milligan University | $7,701,398 |
| Bethel University | $7,609,879 |
| Belmont University | $7,360,039 |
| Lipscomb University | $7,019,692 |
| Tennessee Wesleyan University | $6,111,085 |
