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At my school, we get 3 meals a day on the road, all on a credit card from the athletic department. I don't know how much money is allotted for each meal, but we'll usually go to like Applebees or Subway depending on how much time we have/where we are. We try to avoid fast food. All hotels we stay at have continental breakfast (which sometimes isn't the most appealing). When we are here and school is closed (Ie: spring break), the school opens up one of the dining halls at specified times (for example, lunch would be served between 11:30 and 1) and all athletes on campus can come eat.
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I have no idea what the per diem amount is @ the major college level today. Back in the 70's it was about $30.00 per day. The way that we made money was when breakfast was included with the room, one of the players families would provide lunch (subway, Jersey Mikes, McDonalds, etc...) and the alumni/fans/parents would have a big cookout/BBQ after the game in the hotel parking lot and invite the team to eat.
I go to a juco, when we were on trips(more then a day) we would usually get 2 meals when we went out. We would go to a fast food type or restaurant. The limit was usually $7-10 depending on where we were at but could get away with getting some more food. Then we would just eat breakfast at the hotel. I think it was enough $ for meals and never had issues. I know my friend at a d3 had to split a $20 with 2 teammates when they went out to get food.

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