The Subsidy Gap: Who Pays Their Own Way in College Sports

NCAA Membership Financial Reporting System (MFRS) · 80 Division I programs · Most recent year available

Most college athletic departments don't actually pay for themselves. They lean on "allocated revenue" — student fees, direct payments from the university, and government support — to balance the books. At University of Massachusetts, Amherst, 81% of the athletics budget comes from these subsidies. A handful of blue-blood programs, by contrast, run almost entirely on revenue they generate themselves.

Most Subsidized Athletic Departments

Share of total athletic revenue that comes from student fees, direct and indirect institutional support, and government funding.

#	School	Year	Subsidy %	Subsidy $	Total Revenue
1	University of Massachusetts, Amherst	FY2025	81.1%	$60,190,911	$74,220,923
2	University at Buffalo	FY2025	76.7%	$37,010,154	$48,226,492
3	James Madison University	FY2025	76.7%	$60,334,640	$78,640,115
4	Western Kentucky University	FY2025	73.1%	$29,242,359	$40,028,339
5	Central Michigan University	FY2025	73.0%	$27,657,445	$37,911,632
6	Sam Houston State University	FY2025	71.0%	$30,794,445	$43,342,352
7	Eastern Michigan University	FY2025	70.9%	$27,586,367	$38,924,559
8	Florida International University	FY2024	70.1%	$30,435,909	$43,424,078
9	Kennesaw State University	FY2025	69.9%	$29,812,488	$42,635,872
10	Ohio University	FY2025	69.9%	$25,549,035	$36,543,823
11	Ball State University	FY2025	68.5%	$23,812,669	$34,744,305
12	Texas State University	FY2025	66.5%	$33,621,910	$50,528,819
13	New Mexico State University	FY2025	66.4%	$26,330,129	$39,627,724
14	Kent State University	FY2025	66.1%	$21,291,205	$32,190,567
15	Miami University (Ohio)	FY2025	65.7%	$27,031,144	$41,169,189
16	University of Akron	FY2025	65.0%	$21,298,560	$32,742,898
17	University of North Carolina at Charlotte	FY2025	63.9%	$40,043,342	$62,709,814
18	San Jose State University	FY2025	63.3%	$29,052,329	$45,873,043
19	Bowling Green State University	FY2025	63.2%	$22,319,278	$35,288,178
20	University of South Florida	FY2024	61.5%	$63,661,871	$103,549,435
21	Northern Illinois University	FY2025	60.9%	$19,065,048	$31,290,147
22	Old Dominion University	FY2025	58.9%	$34,455,927	$58,464,225
23	Utah State University	FY2025	55.6%	$41,958,336	$75,442,527
24	Western Michigan University	FY2025	52.3%	$21,919,249	$41,934,267
25	Georgia Southern University	FY2025	51.6%	$22,661,204	$43,923,841
26	Appalachian State University	FY2025	50.9%	$29,133,407	$57,259,361
27	Florida Atlantic University	FY2024	50.5%	$28,377,034	$56,213,887
28	University of Nevada, Las Vegas	FY2025	49.8%	$38,467,909	$77,274,710
29	Rutgers, The State University of New Jersey	FY2021	48.7%	$42,883,174	$87,992,302
30	University of New Mexico	FY2025	44.4%	$27,357,822	$61,595,289
31	University of Houston	FY2025	44.4%	$41,171,569	$92,759,096
32	University of Cincinnati	FY2025	43.7%	$51,740,793	$118,516,168
33	University of Toledo	FY2025	43.5%	$11,325,134	$26,013,481
34	University of Connecticut	FY2025	42.7%	$50,077,358	$117,288,137
35	University of Wyoming	FY2025	41.3%	$22,962,759	$55,619,167
36	San Diego State University	FY2025	35.3%	$35,587,175	$100,801,020
37	University of Central Florida	FY2025	33.8%	$36,831,166	$108,885,089
38	Oregon State University	FY2025	30.1%	$31,502,329	$104,767,707
39	University of California, Berkeley	FY2025	29.0%	$43,109,404	$148,840,896
40	University of Colorado Boulder	FY2025	26.9%	$43,489,237	$161,672,258
41	Washington State University	FY2025	23.0%	$19,202,432	$83,454,950
42	University of South Carolina	FY2025	21.4%	$43,704,106	$204,566,524
43	University of California, Los Angeles	FY2025	20.5%	$31,060,000	$151,797,241
44	Florida State University	FY2025	20.1%	$42,505,033	$211,950,623
45	University of Missouri, Columbia	FY2024	16.4%	$27,579,660	$168,000,978
46	University of Maryland, College Park	FY2025	15.0%	$18,659,414	$123,997,918
47	Virginia Polytechnic Institute and State University	FY2025	14.9%	$24,095,579	$161,217,688
48	North Carolina State University	FY2025	12.1%	$17,063,455	$141,549,444
49	Texas Tech University	FY2025	10.2%	$14,792,073	$145,302,530
50	University of Utah	FY2025	9.0%	$12,627,313	$140,252,864
51	University of Minnesota	FY2025	7.1%	$11,657,831	$163,605,146
52	West Virginia University	FY2025	6.4%	$8,148,358	$128,116,313
53	University of Washington	FY2025	6.0%	$10,781,975	$178,473,117
54	University of North Carolina, Chapel Hill	FY2025	6.0%	$10,423,615	$172,951,034
55	University of Illinois Urbana-Champaign	FY2025	6.0%	$11,632,498	$194,761,178
56	University of Wisconsin-Madison	FY2025	5.3%	$10,421,859	$197,927,246
57	University of Louisville	FY2025	4.7%	$6,868,787	$146,912,011
58	Michigan State University	FY2025	4.3%	$7,693,718	$179,891,651
59	University of Mississippi (Ole Miss)	FY2025	3.2%	$5,734,050	$178,621,017
60	University of Tennessee, Knoxville	FY2025	2.7%	$8,137,633	$304,117,549
61	Texas A&M University	FY2024	2.2%	$5,822,685	$266,361,985
62	University of Georgia	FY2025	1.7%	$3,871,937	$233,526,965
63	University of Iowa	FY2025	1.6%	$2,848,923	$179,978,091
64	Iowa State University	FY2025	1.5%	$1,819,397	$117,990,108
65	University of Kansas	FY2025	1.3%	$1,892,752	$143,856,096
66	University of Oregon	FY2025	0.3%	$589,167	$185,420,897
67	University of Kentucky	FY2025	0.1%	$203,792	$185,082,823
68	University of Michigan	FY2025	0.1%	$240,332	$275,844,115
69	Oklahoma State University	FY2025	0.1%	$87,500	$150,779,379
70	The Ohio State University	FY2025	0.0%	$112,280	$336,077,887

Most Self-Sufficient Athletic Departments

The programs that lean least on student fees and university money — they generate nearly all of their own revenue.

#	School	Year	Subsidy %	Subsidy $	Total Revenue
1	The Ohio State University	FY2025	0.0%	$112,280	$336,077,887
2	Oklahoma State University	FY2025	0.1%	$87,500	$150,779,379
3	University of Michigan	FY2025	0.1%	$240,332	$275,844,115
4	University of Kentucky	FY2025	0.1%	$203,792	$185,082,823
5	University of Oregon	FY2025	0.3%	$589,167	$185,420,897
6	University of Kansas	FY2025	1.3%	$1,892,752	$143,856,096
7	Iowa State University	FY2025	1.5%	$1,819,397	$117,990,108
8	University of Iowa	FY2025	1.6%	$2,848,923	$179,978,091
9	University of Georgia	FY2025	1.7%	$3,871,937	$233,526,965
10	Texas A&M University	FY2024	2.2%	$5,822,685	$266,361,985
11	University of Tennessee, Knoxville	FY2025	2.7%	$8,137,633	$304,117,549
12	University of Mississippi (Ole Miss)	FY2025	3.2%	$5,734,050	$178,621,017
13	Michigan State University	FY2025	4.3%	$7,693,718	$179,891,651
14	University of Louisville	FY2025	4.7%	$6,868,787	$146,912,011
15	University of Wisconsin-Madison	FY2025	5.3%	$10,421,859	$197,927,246
16	University of Illinois Urbana-Champaign	FY2025	6.0%	$11,632,498	$194,761,178
17	University of North Carolina, Chapel Hill	FY2025	6.0%	$10,423,615	$172,951,034
18	University of Washington	FY2025	6.0%	$10,781,975	$178,473,117
19	West Virginia University	FY2025	6.4%	$8,148,358	$128,116,313
20	University of Minnesota	FY2025	7.1%	$11,657,831	$163,605,146
21	University of Utah	FY2025	9.0%	$12,627,313	$140,252,864
22	Texas Tech University	FY2025	10.2%	$14,792,073	$145,302,530
23	North Carolina State University	FY2025	12.1%	$17,063,455	$141,549,444
24	Virginia Polytechnic Institute and State University	FY2025	14.9%	$24,095,579	$161,217,688
25	University of Maryland, College Park	FY2025	15.0%	$18,659,414	$123,997,918
26	University of Missouri, Columbia	FY2024	16.4%	$27,579,660	$168,000,978
27	Florida State University	FY2025	20.1%	$42,505,033	$211,950,623
28	University of California, Los Angeles	FY2025	20.5%	$31,060,000	$151,797,241
29	University of South Carolina	FY2025	21.4%	$43,704,106	$204,566,524
30	Washington State University	FY2025	23.0%	$19,202,432	$83,454,950
31	University of Colorado Boulder	FY2025	26.9%	$43,489,237	$161,672,258
32	University of California, Berkeley	FY2025	29.0%	$43,109,404	$148,840,896
33	Oregon State University	FY2025	30.1%	$31,502,329	$104,767,707
34	University of Central Florida	FY2025	33.8%	$36,831,166	$108,885,089
35	San Diego State University	FY2025	35.3%	$35,587,175	$100,801,020
36	University of Wyoming	FY2025	41.3%	$22,962,759	$55,619,167
37	University of Connecticut	FY2025	42.7%	$50,077,358	$117,288,137
38	University of Toledo	FY2025	43.5%	$11,325,134	$26,013,481
39	University of Cincinnati	FY2025	43.7%	$51,740,793	$118,516,168
40	University of Houston	FY2025	44.4%	$41,171,569	$92,759,096
41	University of New Mexico	FY2025	44.4%	$27,357,822	$61,595,289
42	Rutgers, The State University of New Jersey	FY2021	48.7%	$42,883,174	$87,992,302
43	University of Nevada, Las Vegas	FY2025	49.8%	$38,467,909	$77,274,710
44	Florida Atlantic University	FY2024	50.5%	$28,377,034	$56,213,887
45	Appalachian State University	FY2025	50.9%	$29,133,407	$57,259,361
46	Georgia Southern University	FY2025	51.6%	$22,661,204	$43,923,841
47	Western Michigan University	FY2025	52.3%	$21,919,249	$41,934,267
48	Utah State University	FY2025	55.6%	$41,958,336	$75,442,527
49	Old Dominion University	FY2025	58.9%	$34,455,927	$58,464,225
50	Northern Illinois University	FY2025	60.9%	$19,065,048	$31,290,147
51	University of South Florida	FY2024	61.5%	$63,661,871	$103,549,435
52	Bowling Green State University	FY2025	63.2%	$22,319,278	$35,288,178
53	San Jose State University	FY2025	63.3%	$29,052,329	$45,873,043
54	University of North Carolina at Charlotte	FY2025	63.9%	$40,043,342	$62,709,814
55	University of Akron	FY2025	65.0%	$21,298,560	$32,742,898
56	Miami University (Ohio)	FY2025	65.7%	$27,031,144	$41,169,189
57	Kent State University	FY2025	66.1%	$21,291,205	$32,190,567
58	New Mexico State University	FY2025	66.4%	$26,330,129	$39,627,724
59	Texas State University	FY2025	66.5%	$33,621,910	$50,528,819
60	Ball State University	FY2025	68.5%	$23,812,669	$34,744,305
61	Ohio University	FY2025	69.9%	$25,549,035	$36,543,823
62	Kennesaw State University	FY2025	69.9%	$29,812,488	$42,635,872
63	Florida International University	FY2024	70.1%	$30,435,909	$43,424,078
64	Eastern Michigan University	FY2025	70.9%	$27,586,367	$38,924,559
65	Sam Houston State University	FY2025	71.0%	$30,794,445	$43,342,352
66	Central Michigan University	FY2025	73.0%	$27,657,445	$37,911,632
67	Western Kentucky University	FY2025	73.1%	$29,242,359	$40,028,339
68	James Madison University	FY2025	76.7%	$60,334,640	$78,640,115
69	University at Buffalo	FY2025	76.7%	$37,010,154	$48,226,492
70	University of Massachusetts, Amherst	FY2025	81.1%	$60,190,911	$74,220,923

Biggest Student-Fee Burden

Athletic departments collecting the most from mandatory student fees — money paid by students whether or not they attend a game.

#	School	Year	Student Fees	Share of Revenue
1	James Madison University	FY2025	$58,144,880	73.9%
2	Old Dominion University	FY2025	$33,914,179	58.0%
3	University of North Carolina at Charlotte	FY2025	$27,605,864	44.0%
4	Florida International University	FY2024	$24,121,606	55.5%
5	University of Central Florida	FY2025	$23,675,952	21.7%
6	Texas State University	FY2025	$20,905,575	41.4%
7	Miami University (Ohio)	FY2025	$20,795,231	50.5%
8	Kennesaw State University	FY2025	$19,609,581	46.0%
9	University of South Florida	FY2024	$17,319,525	16.7%
10	San Diego State University	FY2025	$16,627,434	16.5%
11	Appalachian State University	FY2025	$16,069,873	28.1%
12	Virginia Polytechnic Institute and State University	FY2025	$15,660,745	9.7%
13	Florida Atlantic University	FY2024	$15,451,450	27.5%
14	Bowling Green State University	FY2025	$14,149,278	40.1%
15	Kent State University	FY2025	$13,904,401	43.2%
16	Ball State University	FY2025	$13,248,000	38.1%
17	University of Maryland, College Park	FY2025	$12,230,926	9.9%
18	University of Massachusetts, Amherst	FY2025	$11,031,701	14.9%
19	Georgia Southern University	FY2025	$10,740,559	24.5%
20	Rutgers, The State University of New Jersey	FY2021	$10,545,834	12.0%
21	San Jose State University	FY2025	$10,152,916	22.1%
22	Sam Houston State University	FY2025	$9,999,159	23.1%
23	University at Buffalo	FY2025	$9,777,564	20.3%
24	Florida State University	FY2025	$8,630,739	4.1%
25	University of North Carolina, Chapel Hill	FY2025	$8,504,951	4.9%
26	University of Toledo	FY2025	$8,498,296	32.7%
27	University of Houston	FY2025	$8,135,241	8.8%
28	North Carolina State University	FY2025	$7,591,574	5.4%
29	Northern Illinois University	FY2025	$6,906,290	22.1%
30	University of Utah	FY2025	$6,458,932	4.6%
31	University of Nevada, Las Vegas	FY2025	$5,669,805	7.3%
32	University of Connecticut	FY2025	$5,189,585	4.4%
33	Western Kentucky University	FY2025	$4,751,005	11.9%
34	University of New Mexico	FY2025	$4,700,666	7.6%
35	Utah State University	FY2025	$4,507,811	6.0%
36	West Virginia University	FY2025	$3,948,358	3.1%
37	New Mexico State University	FY2025	$3,886,013	9.8%
38	University of Georgia	FY2025	$3,871,937	1.7%
39	University of Illinois Urbana-Champaign	FY2025	$3,639,531	1.9%
40	Oregon State University	FY2025	$2,998,037	2.9%
41	University of Wyoming	FY2025	$2,167,794	3.9%
42	Iowa State University	FY2025	$1,819,397	1.5%
43	University of Colorado Boulder	FY2025	$1,710,502	1.1%
44	University of Tennessee, Knoxville	FY2025	$1,000,000	0.3%
45	University of California, Los Angeles	FY2025	$1,000,000	0.7%
46	University of Louisville	FY2025	$903,695	0.6%
47	University of Iowa	FY2025	$650,000	0.4%
48	Washington State University	FY2025	$634,715	0.8%
49	University of California, Berkeley	FY2025	$444,374	0.3%
50	Oklahoma State University	FY2025	$87,500	0.1%

Data compiled by College Sports Finance from NCAA MFRS filings obtained via public records (FOIA) requests. See the methodology page for full sourcing details. Last updated: 2026-06-22.

The Subsidy Gap: Who Pays Their Own Way in College Sports

Most Subsidized Athletic Departments

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Most Self-Sufficient Athletic Departments

Biggest Student-Fee Burden

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