The College Scholarship Plan is a negotiated part
of the standard minor league contract that
guarantees a player a specific amount of money for a
specific amount of semesters at the college of his
choice. The exact number of semesters and the amount
of money
guaranteed for each semester is negotiated depending
on each player and his circumstances.
A high school player will receive eight semesters
and a specific amount of money set aside in case
he choses to attend college.
College juniors will have money set aside
for the player to finish the remainder of his college
education in the off-season The amount set aside will
vary depending on the
costs of tuition at that particular college.
The College Scholarship Plan must used within
two years after the player leaves
professional baseball. A player can use the College
Scholarship Plan while he is still playing but
can't take more than a two- year hiatus from the
College Scholarship Plan unless he is put on the 40-
man roster or attends instructional league or plays
winter ball.
Players under the College Scholarship Plan are
reimbursed for the costs of attending college like
tuition, books, room and board. The Internal Revenue
Service considers the
College Scholarship Plan taxable income.
Approximately 1/3 of committed College Scholarship
Plan money is
eventually used according to Major League Baseball.
Most of the players using the College Scholarship Plan
are players that signed out of high school and
professional
career ended after a few years in the low minors.
College Scholarship Plan
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