Financial Aid

Preliminary approval given to $208.7 million NCAA settlement

About 40,000 college football and basketball players will not need to submit a claim to receive a portion of the $208.7 million the NCAA will pay to settle a federal class-action lawsuit that claimed the value of their athletic scholarships was illegally capped.

U.S. District Judge Claudia Wilken in California gave preliminary approval Tuesday to the settlement that was agreed upon by the NCAA and plaintiffs in February. Hagens Berman, the law firm representing plaintiffs, says each eligible person will receive approximately $6,500 and it can begin mailing notice to class members by July.

"We're grateful to the court for preliminarily approving this monumental...