....and anyone else interested.... https://www.mlb.com/official-i...ip/player-guide-2017
Keewartson was under the most recent Continuing Education Program, which is negotiated and signed at time of contract signing.
Son completed his degree while still playing milb (thanks Covid) so he utilized the program. Many (most) do not.
1) We paid for the tuition up front and son was reimbursed after submitting a passing grade, per his team rules. Better have that 4th year tuition money still available upfront. And like TPM mentioned, costs rise every year, while the CEP amounts stay the same.
2) His contract stated that he would have 10 years to complete the degree, from (about) the date of the contract (not from when you leave playing ball). (my thoughts: if you still playing after 10 years, you are in the MLB so you can pay for college yourself lol)
3) The tuition and living allowances are considered taxable income to your son. I did son's taxes so we/he paid quarterly estimated taxes those years he was in school and seeking reimbursement. (Since we (his parents) were paying for his college education, we absorbed his tax liability.)
4) The CEP tuition and living allowances listed on this contract were based off of the current year at the time of the draft and at the current school, but does not list a specific college, so I guess you could go to any college to finish. But like TPM mentioned, you could loose credits if you transferred for one year. I do know of a player that signed out of high school instead of playing at UVA (almost unheard of), and when his career was over he was choosing from several Ivy League programs. One poster on this site son negotiated a year of graduate school.
5) Keewartson's CEP contract lists a total for tuition and separate total for living expenses. I understand now that some contracts could list the amounts by semester. This would have really hurt us because son lived on campus one semester, which was more than half of the total available to him due to the increased cost of college. To finish up his degree, he took online classes.
6) Again, if you are a junior out of college getting drafted, don't look at this CEP as all free money (unless you are one of the few states that doesn't tax income). For some, the 4th year baseball scholarship from the college is the better monetary deal to complete your education. And again, as TMP mentioned, some larger schools have their own funds to pay for players to come back and finish their degree. @FL2023 your son's ACC school may have this. Keewartson's school did not.