Ironhorse - the article does a good job detailing how $1 million gets whittled down to $469k, but IMO fails to put the $469K into perspective. For a kid getting a 75% ride to Vanderbilt, who has aspirations to be a MLB ball player and maybe a doctor if that doesn't work out, $469k means one thing. For some kid going to State U who really would prefer not to set foot in a classroom, $469k means something completely different. The article has some value but is really only the very beginnings of the decision making process. The $469k "left over" assumes a 7 year career. Taking BucsFan's figures, that $469k would be somewhere closer to $1 million at the end of 7 years.
That makes sense, but the fact that it is a good starting point on money gives it some value. We can definitely play the hypothetical game all day with investments and academic motivations, but the fact I know is this: every kid I've ever had that got drafted, there was always talk of a "number," from every angle, player, colleges, scouts, etc. It is one of the most important aspects of the decision. Setting that "number" for each individual kid is sliding scale based on a host of factors, no doubt. Most kids looking at getting a big number (think 5th round at worst) have already committed to a quality D1 program. They probably got for a healthy chunk paid for (50-90% has been the range for kids I've had experience with), so college fund isn't as big of an issue. Generally, the kids who aren't good enough students to pass basic classes have shown that in high school, and that impacts the decisions made by college coaches in a lot of cases, especially at the premier programs that also seem to be premier schools. So a lot of the variables of whether these kids can succeed in or afford school aren't as big an issue as the money offered to sign. Again, just my experience, and when we're talking $1 mil plus, we're talking top HS talent.