Skip to Main Content
Doing More Today
  • News
  • Community
    • Community Engagement
    • Small Business
    • Economic Development
    • What a Difference a Day Makes
    • Share the Good
  • Insights & Innovation
    • Economic Commentary
    • Insights
    • Innovation
  • Financial Wellness
    • Financial Wellness
    • Fraud Prevention
  • See the Good
    • Culture
    • Good Company
    • Good Towns
    • Good Pets
    • Ecards
    • Recipes
    • Riding Forward
Subscribe Now Visit @RegionsNews on Twitter
Regions Bank

Regions Bank: Doing More Today: Good stories. Better insights. More possibilities.

Share
Share on Facebook
Share on Twitter
Share on LinkedIn
Share via Email
Subscribe
Screenshot of Panelists
Category: Innovation

Providing NIL Solutions at Ole Miss

New Next Step program helps student-athletes prepare for unprecedented financial opportunities.

By Doug Segrest | September 30, 2021

The world of college athletics changed dramatically over the summer.

The reason: NIL, which stands for Name, Image and Likeness. A seismic change, the new standard allows student-athletes to accept compensation for the first time in history.

You’ve seen the changes already, with your favorite college stars endorsing products.

Regions is launching a free new platform, NIL Solutions, to ensure a secure financial future for these student-athletes.

Regions partnered with the University of Mississippi this week to provide Next Step advice and guidance for Ole Miss student-athletes. In an hour-long virtual session, Regions bankers provided tips ranging from tracking spending and creating budgets to building savings and credit.

But what took this education session a step beyond were lessons provided by Regions on making the most of new revenue streams offered by NIL opportunities.

“We are pleased with the elevation of our financial literacy program through our partnership with Regions,” said Ravin Gilbert, Social Responsibility and Engagement director for Ole Miss athletics. “With their help, we are able to educate our student-athletes throughout the school year of the short-term and long-term impacts of their current financial decisions.”

We are pleased with the elevation of our financial literacy program through our partnership with Regions. With their help, we are able to educate our student-athletes throughout the school year of the short-term and long-term impacts of their current financial decisions.
Ravin Gilbert, Social Responsibility and Engagement director for Ole Miss athletics

Financial Wellness Relationship managers Donna Medina and Gayla Land prepared a Next Step overview of money management basics. Land noted that she could relate to the circumstances facing athletes as her son is a college freshman.

Step one to success: account for every penny.

“Track your spending, beginning with your income and following through with all your expenses,” Land said. “To be in control of your money, you must be in command of your spending.”

Andrew George, a Regions Wealth Advisor with offices in Starkville and Oxford, noted that the new income opportunities for the Ole Miss athletes – as well as long-term earning potential – had a limited lifespan in the athletic arena.

“Athletes have shorter windows,” George said. “We all have to be honest with ourselves and face the reality that future income isn’t guaranteed.”

George pointed out that even superstar pro athletes often struggle managing their money, quoting studies that show four of five NFL players and three of five NBA athletes end up in financial distress or go bankrupt.

To avoid that fate, whether you are looking at future million-dollar contracts or simply trying to build on what you have, George advised the student-athletes to seek out the right kind of help.

The NIL is a revolutionary change to how student-athletes are compensated and something unthinkable when I was playing football.
Mark Senter, experiential and sponsorship marketing strategist, Regions Bank

“When you come into a lot of money, don’t go to friends and family for help. While you may trust them, this is a job for professionals,” George said.

Those professionals include a tax specialist, attorney, business manager, portfolio manager and wealth advisor by building on your existing banking relationship because “an advisor can help you align goals with the strategy that fits you best.”

The official bank of the SEC, Regions offers financial education to numerous schools and companies throughout its 15-state footprint.

But the NIL Solutions effort kicked off at Ole Miss will soon be available nationwide.

“The NIL is a revolutionary change to how student-athletes are compensated and something unthinkable when I was playing football,” said Mark Senter, experiential and sponsorship marketing strategist at Regions and a former place-kicker at the University of Southern California. “We have been focused on helping college students learn to manage their money. But this new format will provide student-athletes the tools, resources and solutions to not only capitalize on NIL, but to begin building for a more stable economic future for themselves and their families.”

Share
Share on Facebook
Share on Twitter
Share on LinkedIn
Share via Email
Subscribe

Trending Articles

  • 1.

    5 Tips to Send P2P Payments Safely

  • 2.

    Regions Bank Continues Celebration of Black History Through the Riding Forward Scholarship Contest

  • 3.

    Mission Mortgage: Marine Credits Regions Mortgage Banker With New Home

  • 4.

    March 2023 | Economic Commentary

  • 5.

    Regions Bank Earns Top Marks for Customer Satisfaction in Florida from J.D. Power

Related Articles

Daniel Stahl
Category: Innovation

3 Keys to Successful Machine Learning Operations

Chun Schiros
Category: News

With Great Data Comes Great Responsibility

three people smiling at camera
Category: Innovation

‘It’s Not For the Faint of Heart’

photos of store interior with clothes and accessories
Category: Community Engagement

Attiring and Inspiring

Bryan Ford and John Turner of Regions Bank
Category: Innovation

Strategy in Action: Investing in Technology and Innovation

Photo of Demetrius Wood and family with Jennifer Rollins
Category: Culture

Mission Mortgage: Marine Credits Regions Mortgage Banker With New Home

Photos of Carolyn Pierce and Clarksville, Tennessee
Category: News

A Cornerstone Career

Lara Hernandez
Category: Culture

Building a Career in Equipment Finance

Regions.com | About Regions | Investor Relations | Privacy & Security | Website Terms of Use | Contact Regions
© 2023 Regions Bank Member FDIC |
All Rights Reserved | Member FDIC | Equal Housing Lender | Online Privacy