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 Post subject: Signing Bonus/Tuition Assistance Question
PostPosted: Thu Jun 11, 2009 12:30 pm 
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On Joshua Dunn's thread, someone asked how the Bonus/Tuition assistance works...here's the answer from that thread.

It's separate. Yet most local newspapers will report it like this which isn't crystal clear...

"Johnny signed with the Mets for a deal worth close to a 130K. In addition he also received money to attend college through tuition assistance".

Most of the time, the number you see is the total number in the deal.

You receive a signing bonus (which can be structured- payments of up to 5 years on two-sport athletes as well as lesser payments (i.e. for tax purposes such as got 300K, split it 150K and 150K, to avoid being killed at tax time).

Then if you qualify or offer it to you as part of the package, you receive a MLB tuition assistance plan. For instance, if you are going out of state to attend a university, the tuition costs and housing costing associated for that are much higher than instate tuition as well as JUCO vs D1. So having signed a scholarship to say UCLA and you live in NY, that's about 24K a year give or take with living costs. They will negotiate this deal too, it's all part of the package. But, don't ask for 100K and you're headed to the local JUCO school a few blocks away, it isn't going to happen. I've seen packages as high as 100K before to start out of HS vs going to college. And the college guys get their last year worked into their contract too if they negotiate it (if selected in their junior year). The plan covers 8 semesters or 2 per year x 4 years. You can you use this program up to two years after you retire from minor league baseball. Like the GI bill, you can use it while you're in or begin it up to two years after you're out. If you do not start the enrollment up to two years after, all tuition assistance is lost. But once you start the plan, it runs 8 consecutive semesters and will not be delayed. In otherwords, 4 years and you're done.

I hope that explains the system.

Go Mets!


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