Here’s How Student Olympians Can Cash In on Their Medals

Foreign-born and American student athletes could get paid the big bucks for taking home the gold.

By Joy DiazAugust 5, 2016 9:46 am

Nabbing an Olympic gold medal can mean more money, endorsements, and TV ads if you’re a pro athlete. But some student athletes may also be cashing in on their wins. USA Today writer Steve Berkowitz says the games could be especially lucrative for Joseph Schooling, a swimmer with the University of Texas.

Schooling could get $750,000 for a gold medal through the Singapore National Olympic Counsel. He would get $187,500 for a bronze medal.

“They award prize money to Singapore athletes based on their finishes at different competitions, depending on the year,” Berkowitz says.

Schooling is just one of the special cases. Some American college students also get stipends through the Olympic committee’s Operation Gold program. Although the NCAA rules allowing for this exception have been around for 15 years, Berkowitz says the organization made a change in 2015 that also allowed foreign athletes to receive money. The organization hopes it will be an incentive for athletes coming out of college to keep them competing in their particular sport.

Listen to the full interview in the audio player above.

Post by Beth Cortez-Neavel.