The quote below is from the
Division II Manual quote:
14.1.9 A student-athlete who is enrolled in a graduate or professional school of the institution he or she previously attended as an undergraduate (regardless of whether the individual has received a United States baccalaureate degree or its equivalent), a student-athlete who is enrolled and seeking a second baccalaureate or equivalent degree at the same institution, or a student-athlete who has graduated and is continuing as a full-time student at the same institution while taking course work that would lead to the equivalent of another major or degree as defined and documented by the institution, may participate in intercollegiate athletics, provided the student has eligibility remaining and such participation occurs within the applicable 10-semester/15-quarter period set forth in Bylaw 14.2 (see Bylaw 14.1.8.1.7.4). (Revised: 1/10/90, 1/16/93 effective 8/1/93, 1/8/07 effective 8/1/07)
I can't find anything related to money, but there is nothing that says that an athlete is not able to receive money. I am in a similar situation speaking with several Division I coaches about playing my final year of eligibility at their school and all of them have discussed money. I could be wrong but as far as I interpret, the same financial rules apply for grad students as it would for undergrad.
