Some people, athletes or not, will continue to spend any money they have on "excesses," and giving them more or less won't change that.
I'm not arguing for paying athletes as I'm not sure if that's the answer or not. But I will tell you that while you would gladly trade your tens of thousands in student debt for playing ball, I can give the other perspective. I'm in my mid 30s, and have never had student debt thanks to athletics. However, I have MAJOR memory issues to go along with chronic shoulder, knee and foot pain. And as someone who is married with 3 small children I also seriously worry about the uncertainty of what that will look like in the next ten to twenty years. Very difficult to put a definitive value on that.
While I believe football helped teach me lessons that couldn't be taught in a classroom, I'd be lying if I didn't at least acknowledge that I have some reservations about my two boys playing ball as they get older.