I think college sports are going to face the same issues of inequality and an inability to improve programs as prosports have with no salary cap.
I think the whole sham of College sports being regarded as an "amateur" game should be nuked immediately.
For comparison in Australia, the AFL players are drafted at 18 years of age straight out of high school (it used to be a lot younger) and paid appropriately because their career can end in a hurry. They are actively encouraged to take further education at University all the way through to have a pathway post-football, and most of, if not all, do wisely take advantage of that. But they also have a pretty healthy paycheck regardless, even at the bottom of the bottom rates.
Colleges make a fortune out of these athletes at the same age, and for too long they had to live on breadcrumbs. Yes their tuition is paid, but there should be a fairer apportionment. Is there any evidence that the massive bucketloads of cash from broadcasting rights that these athletes are generating to the Colleges are being used to discount the fees being charged to everyone else? I haven't heard of it.