On Friday we learned that the SEC brought in record revenue for the 2014-15 fiscal year, totaling $455.8 million. Each of the 14 schools will receive $31.2 million of that sum.
The amount is pretty wild in and of itself, but how the universities will be paid is even crazier – at least to someone like myself who has never dealt with a transaction like this. The SEC will provide either one or two payments to each school … in regular old check form. Not some high-security transaction service I imagine Bruce Wayne uses, but a standard paper check. The same paper checks us common folk use. No kidding.