Last Updated on September 12, 2022
The INFLCR platform, one of the leading NIL platforms across Power Five athletics, is expanding the resources it is offering to student-athletes and their athletic programs. Financial content and advice company MoneyLion announced a partnership with INFLCR on Monday, with the goal of helping student-athletes navigate the financial side of NIL as effectively as possible.
University of Southern California junior receiver Brenden Rice is one of the NIL ambassadors for this partnership and believes that educating student-athletes on the financial nuances of the current college sports landscape is essential.
“With NIL, I see athletes receiving million dollar deals without being educated on what to do with that money,” Rice said in an email interview with BCS. “I talk about MoneyLion with my teammates and how important it is to be educated so we can build generational wealth. With money comes taxes, negligence, and pride, we need to make sure we take time to learn about investing our money in the long term.”
Rice also said that with the assistance of MoneyLion, he can focus on football and helping the Trojans perform at the best that they can — as well as his class schedule at the academically rigorous USC — rather than stressing about the finances that come with NIL. It’s worked so far, as Rice has recorded a catch in each of his first two games with the Trojans this season, both victories for USC.
The financial literacy gap is one specific area where Rice says that having a partner like MoneyLion can make a big difference in the NIL era.
“MoneyLion is trying to fill the financial literacy gap so the next generation knows how “to money,” and I want to be a part of that,” Rice said “Through MoneyLion, I learn about things like doing my taxes, building my credit score, and investing. These areas are not taught in college but affect the rest of my life. NIL is a blessing, and I’m grateful to have MoneyLion as a partner so that I can use my finances to the fullest.”
Since the inception of NIL, INFLCR has worked with student-athletes to ensure compliance with the complex regulations of NIL. The platform’s partnership with MoneyLion looks to make INFLCR’s offerings even more comprehensive and continue its momentum in impacting the NIL space.