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Question. Is it illegal for a player to take a loan from a bank?
Posted on 10/9/14 at 9:15 pm
Posted on 10/9/14 at 9:15 pm
Using their draft status as collateral?
Not that a reputable financial institution would actually finance someone based on draft status. I'm just curious. I know taking a loan from an agent, etc. would be illegal.
Are players allowed to receive pell grants and other subsidies?
Just trying to think of ways guys can get money so they can have nice rims on their booster paid for rides.
Not that a reputable financial institution would actually finance someone based on draft status. I'm just curious. I know taking a loan from an agent, etc. would be illegal.
Are players allowed to receive pell grants and other subsidies?
Just trying to think of ways guys can get money so they can have nice rims on their booster paid for rides.
4
Posted on 10/9/14 at 9:17 pm to Remote Controlled
Yes
Posted on 10/9/14 at 9:17 pm to Remote Controlled
quote:
Are players allowed to receive pell grants and other subsidies?
Yes.
quote:
Using their draft status as collateral?
Only if the bank makes similar loans based on potential future earnings at a payment schedule and other special terms available to the chem major at the same school...
Posted on 10/9/14 at 9:18 pm to Remote Controlled
You'd need to look no further than Colonial Bank.
Posted on 10/9/14 at 9:21 pm to CtotheVrzrbck
I was thinking those Indian banks would finance them at 89% or so.
Great deal.
Great deal.
Posted on 10/9/14 at 9:24 pm to CtotheVrzrbck
Colonial Bank ATM Cards = legal 
Posted on 10/9/14 at 10:12 pm to Remote Controlled
Depends on where the bank president went to school.
Posted on 10/9/14 at 10:41 pm to WDE24
quote:
Yes
Are you sure? In the aftermath of the albert means case, during the hurling of accusations between AL/TN it came out that several TN players had bank loans and it wasn't a violation, if I recall correctly. Seems I remember the radio heads back then talking about how it was pretty common.
Posted on 10/9/14 at 10:54 pm to Broken Coyote
A few years ago, I remember something about UNC b-ball players getting loans from a dealership partially owned by MJ in Chapel-Hill.
Balloon loans, with really, really low monthly payments and a huge amount due at the end of the term that pays off the remaining balance. It didnt have to be in a parents name.
No links or anything, just some bullshite from a UK board about UNC.
Balloon loans, with really, really low monthly payments and a huge amount due at the end of the term that pays off the remaining balance. It didnt have to be in a parents name.
No links or anything, just some bullshite from a UK board about UNC.
Posted on 10/9/14 at 11:56 pm to Heresaucer
Bottom line is that the player can't be treated differently than any other customer.
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