re: Why do college football/basketball players feel they are so deserving to be paid?

Because we live in America. You are paid what the market will pay. In the words of Otter:

But you can't hold NCAA SPORTS responsible for the behavior of a few, sick twisted individuals. For if you do, then shouldn't we blame the whole system? And if the whole system is guilty, then isn't this an indictment of our educational institutions in general? I put it to you, Greg - isn't this an indictment of our entire American society? Well, you can do whatever you want to us, but we're not going to sit here and listen to you badmouth the United States of America. Gentlemen!

[Leads the Deltas out of the hearing, all humming the Star-Spangled Banner]