U of M starts program to pay scholarship athletes - WMC Action News 5 - Memphis, Tennessee

U of M starts program to pay scholarship athletes

MEMPHIS, TN (WMC) -

The University of Memphis launched a new initiative to provide full cost of attendance for its scholarship student-athletes.

The U of M has developed a strategy to help with funding the full cost of attendance.

Financial aid office employees said student-athletes at the University of Memphis spend about $5,373 per year. This is considered the cost of attendance for the school.

Starting with the 2015-16 academic year, the university will provide the men's and women's basketball players on scholarship a stipend of $5,373 to cover the cost of attendance. Scholarship athletes playing volleyball, women's tennis, and football will receive $3,000.

The stipend will be provided in equal installments throughout the academic year.

The university said it is also coordinating educational opportunities for student-athletes to learn about personal finance and budgeting.

The school also hopes to one day expand the stipend to cover complete cost of attendance for all student-athletes on scholarship.

Copyright 2015 WMC Action News 5. All rights reserved.

Powered by Frankly