I've seen and been around plenty of lower level college programs where student athletes participate to varying degrees in fundraising but I have never heard it presented directly as paying for uni's. That would be very unusual.
When you block a person, they can no longer invite you to a private message or post to your profile wall. Replies and comments they make will be collapsed/hidden by default. Finally, you'll never receive email notifications about content they create or likes they designate for your content.
Note: if you proceed, you will no longer be following .