My son goes to a small school and plays two D2 sports (one gives 8.1 equivalents, the other 4). The school also offers generous merit-based scholarships (GPA, board scores). Another interesting scholarship that was always available but not to student-athletes until recently was a "geographic diversity" grant to attract students from further away and offers them room and board on campus for $500 a semester. That was the difference in room and board for a semester of about $4000. We were fortunate that this was opened up to scholarship athletes when he was a freshman.

On a similar note, a friend of mine's son was a D2 all American golfer in a school just outside of Illinois. All he would say is that the AD was "very creative" in finding money for his son. If they want you, they will find a way to find you $$$$.