NIL stands for Name, Image, and Likeness. It refers specifically to the rights of student-athletes to benefit financially from the use of their own NIL in ways permitted by a combination of federal and state regulations and the NCAA Interim NIL Policy and its bylaws.
In practical terms, NIL allows student-athletes to participate in opportunities like endorsement deals, sponsorships, social media collaborations, autograph events, and other commercial activities. This enables them to generate income from their popularity while remaining active college athletes.
Below is a link to my classroom where we spend more time outlining the details of Name, Image and Likeness