I've been following this more, and it is something that has long overstayed its welcome. Frank Deford did a bit on NPR some weeks back about it, and I just listened to this interview on Fresh Air.
College students are poor, we all get that. However if you are a student that the college has sought out and coerced into playing for their college due to your valuable skill set, and that college stands to make millions off of your playing and crowd draw, then why do we not pay these people? Why is loaning money or giving gifts illegal? The real answer is that the colleges make too sweet a margin off of their free work force. If the players were employees, such as they are in the NFL, then things would make a little more sense, and we can stop being mad every time some poor kid gets too excited when someone offers him to "borrow" their Escalade for awhile (Note: I fucking hate Escalades and everything they stand for).