The following piece by Nancy Lieberman was printed in the 'Dallas
Morning News' on March 10, 2007:

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OPINION Viewpoints
NANCY LIEBERMAN: STUDENT ATHLETES MUST MAP OUT SUCCESS IN REAL WORLD

Less than 1 percent make it to the pros

10:17 AM CST on Saturday, March 10, 2007

College sports fans have been eagerly anticipating the most exciting
time of year: March Madness. For me, the thrill of leading the Old
Dominion women's basketball team to two national championship titles
has not faded over the years. Today, as a sports broadcaster taking
in the tournament excitement from the sidelines, I reflect on my
experiences since first taking center court at a championship game,
and one thing becomes clear: Student-athletes are not well prepared
for the day the cheering ends and the "real world" madness begins.

The reality is that less than 1 percent of student athletes make it
to the pros. While most young athletes recognize this and have a
solid education to help pave their way after graduation, few create a
game plan for success in life off the court. Even those lucky few who
get to live their dreams as a professional athlete are in for a rude
awakening. I certainly was.

When I left college, I didn't realize how ill prepared I was for the
next phase of my life. I started making money, but I didn't bother to
seek sound financial advice. I became a proud owner of emus because I
was told that the oil and feathers could be sold for a profit. I took
a shot with that investment and others, and, not surprisingly, I took
some hard financial hits.

As a young athlete, my only teacher on real world issues was trial
and error. It's a similar story for many of today's 380,000 student
athletes.

Although they have the guidance and support of coaches to perfect
their skills and succeed academically, rarely do they get coached on
the personal finance fundamentals that are essential for surviving in
the professional world. And with such structured schedules, most
don't have the opportunity to get a part-time job to learn about the
value of earning a steady paycheck.

Today, even those non-athlete students with part-time jobs often have
a detrimental "make money to spend money" mentality, which is
reflective of today's society as a whole. The 2006 personal savings
rate was at negative 1 percent, the lowest level for more than seven
decades, according to the U.S. Commerce Department.

With this attitude towards savings, it's no wonder that many college
students don't understand the importance of creating a budget to curb
unnecessary expenses. Almost all have credit cards, but few actually
understand how poor credit ratings affect the ability to borrow money
later. Along with mounting high-interest credit card debt, many will
be faced with student loan payments after graduation. According to
The College Board, two-thirds of college students graduate with
student loans, and the average debt is more than $19,000.

Too many college graduates are not equipped to manage this debt
responsibly, let alone create a savings account or contribute to a 401
(k) plan. That is the case unless we help them change course now,
before it is too late.

Determined to help student athletes avoid making the same mistakes I
made, I joined The Hartford's Playbook for Life national education
campaign. I travel to college campuses sharing the insights I gained
from my financial mishaps and years as a coach and mentor to
enlighten student-athletes about the challenges of transitioning to
life after sports. Introducing young athletes to the program's
guidebook and Web site with tips and tools for achieving a secure
financial future is one of the most important things I do.

These talented student athletes should savor every moment of
their "glory days," but they should also realize that the crowds of
fans will someday fade. I encourage them – and all students – to not
overlook the importance of financial preparedness and plan ahead to
succeed at the game of life.

Basketball Hall of Famer and two-time Olympian Nancy Lieberman played
professionally with the WNBA and served as both head coach and
general manager for the WNBA's Detroit Shock. Her e-mail address is
info@....

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Sound practical advice from a woman who learned the hard way on the
financial side of being a female pro athlete!

Steven
Sacramento, CA