Since they began in 2021, name, image and likeness (NIL) agreements have brought millions of dollars to college athletes. More than half a billion dollars in the first eight months of 2026 alone, according to data from the College Sports Commission. In 2025, the National Collegiate Athletic Association started allowing universities to pay athletes directly for the first time, adding to student-athlete income.

Helping NC State athletes learn to manage that money was on Poole finance professor Mark Walker’s mind when he became department head in 2025. The average 18- or 19-year-old hasn’t had much exposure to the basics of money management, he says, and that knowledge becomes particularly valuable for athletes receiving substantial amounts of money.

“NC State has an obligation to these student-athletes,” Walker says. “They’re bringing a tremendous amount of value to the university. They keep alumni connected. Young people want to go to universities that are competitive in high-profile sports.”

At the same time, NC State Athletics leaders were thinking about the same things.

“The biggest advantage our athletes have right now is the time that they have,” says Raymond Harrison, senior associate athletic director for student development and strategic partnerships. “If they can maximize what they learned to create something for themselves long term, that’s one of the most important pieces we can give them.”

Harrison and Walker’s trains of thought linked up, leading to the Financial Game Plan, an offseason training program to help these elite athletes build their money skills. For four weeks in July, NC State athletes from every varsity sport learned the basics of tax planning, budgeting, investing and more from Poole professors.

Building a Lasting Foundation

Before getting into the nitty-gritty of tax rates and in-kind income, the July 7 opening session of the Financial Game Plan started with some guiding ideas from former Wolfpack athletes. Incorporating alumni mentors was important to making the summer program more engaging than a traditional lecture.

“Countless athletes came before y’all,” Talisha Skates Cook, who played for the NC State women’s basketball team from 1998 to 2002, told the roughly 50 athletes who assembled for the July 7 first session. “You guys have the privilege of living in this space that we all dreamed about. Don’t let this opportunity go to waste. Make sure you’re building a foundation for yourself.”

From there, the athletes split into two groups. One heard from Barbara Fuzesi, a lecturer in finance. Fuzesi brought academic and athletic credentials to her session. She was an all-conference tennis player at DePaul and is a competitive pickleball player today.

Compound interest, Fuzesi says, works a lot like practice. No single session transforms a tennis player’s serve or a golfer’s putting stroke. Over time, though, consistent effort creates excellence.

In the same vein: Invest $500 once at a 10-percent annual interest rate, and you’ll have enough in 40 years to make a down payment on a luxury car. Do it every month, consistently, and you’ll finish that 40 years with more than $2.7 million.

“You’re practicing every day, over time, compounding your strength and your skills,” Fuzesi says. “We’re going to apply the same thing to your finances.”

Fuzesi also discussed budgeting. She urged the students to split their NIL income into four funds: one for tax payments (30%), one for expenses (35%), one for retirement (25%), and one for emergencies (10%).

That first fund is a crucial one, assistant professor of practice Mary Newman says during her July 7 talk, because student-athletes are taxed as self-employed contractors. Their NIL income is taxable, whether it comes in cash or some other form.

“When you receive clothing, shoes, food vouchers, trips — all of that is income, for tax purposes,” she says. “Do you think the IRS is going to accept shoes? You really need to understand what is taxable and set aside money in your bank account to pay those taxes.”

Putting Lessons Into Practice

Newman’s message stuck with Caden Tolentino, a fifth-year senior on the Wolfpack soccer team. While he’d learned some about personal finance before the course, Tolentino admitted being “a little bit behind the curve.”

“It makes a big difference to be able to come here and learn,” he says. “What to do with your money, what accounts to put it in, how to automate these things. It all makes a massive difference.”

“Having a tool to use instead of just kind of going in blind is vital to me.”

“I really liked Newman’s acronym: PREP,” Duke Scott, a senior NC State football player, says. “It’s Pin down (income streams), Record (documentation), Estimate (tax liability), and Pay (every quarter). Having a tool to use instead of just kind of going in blind is vital to me.”

Financial Literacy With a Wider Reach

The Financial Game Plan is a project of Poole’s Financial Literacy Initiative (FLI). Launched in 2025, the FLI offers unbiased research-backed financial knowledge to people across North Carolina.

The Initiative delivers that knowledge in several ways. There are periodic free virtual sessions that give participants ideas and the tools to incorporate them into their own financial lives. The FLI has also developed custom curriculums for in-person instruction with public-sector employees.

Forty-five percent of participants in FLI virtual sessions reported being more comfortable making major financial decisions after the course.

“We’ve figured out how to create good results with this work because we’re taking a very analytical approach to delivering the content,” says Richard Warr, Poole associate dean for research and FLI director.

Harrison and Walker hope the Financial Game Plan will become a consistent FLI offering for students. Discussions are underway to make it a credit-earning summer course, although Walker says it’s not clear when or how that might occur.

“Having the ability to come take a class to learn how to manage your money and create generational wealth is something I honestly felt like I couldn’t pass up on.”

With or without course credit, senior AJ Richardson, a linebacker on the Wolfpack football team, sees real value in the wisdom he and his peers gained during the summer of 2026.

“Having the ability to come take a class to learn how to manage your money and create generational wealth
is something I honestly felt like I couldn’t pass up on,” he says.