The NCAA and the Power 5 conferences have agreed to settle a number of landmark lawsuits, paving the way to direct payment to players at 69 schools.  Under the agreement, up to $21M per school per year could be paid to players.  The settlement also provides payment for former Division I players, back to 2016, spread over 10 years.  14,000 players are beneficiaries to the settlement.  However, the terms still need to be approved by the plaintiffs and the judge(s), while a remaining lawsuit is still looming.  It is also unclear how existing laws like Title IX, new NCAA rules, and future federal legislation will have on scholarships, payments and Name, Image and Likeness (NIL) programs. 

Many smaller schools are already worried about the loss of money from the NCAA, which is going to be withheld to pay for the settlement.  It is also unclear what will happen to smaller programs at the 69 Power 5 schools, as budgets come under pressure by the need to fund the $20ish million per year.  Another big change will be a switch from scholarship counts to roster sizes.   This is causing concern that more sports programs will be cut. especially in smaller sports.

Link:  ESPN
Link:  AP "Who get's paid"
Link:  CBS Sports: Impacts for Years to Come