Come on man, thats a weak analogy. Regular students PAY big bucks to go to school and really have no means to profit off their likeness. Players get PAID by the school...yes maybe not much cash per se but you realize that a 5 yr player in the program is getting 300K plus invested in him thru the full ride and support services and travel etc. The school is buying the rights to profit off their likeness.
Yea I'll betcha an average student would take that deal and not fret too much about not being able to "profit off their likeness".
If you want to play even steven, then let the incoming freshman player decline the scholarship and instead pay his own way. With that he can be free to profit off his likeness and have no restrictions...just like an average student