This debate comes up from time to time, but it seems seriouser this time. Hell, the Supreme Court is looking at it.
The "deal" with scholarship athletes is approximately this: You (the student) get a free education in exchange for playing a [fucking] game for the school. The value of that education can vary quite a bit, depending on the student's effort, capabilities, and the school itself. It can easily be worth fifty thousand dollars per year in after-tax money. Pretty good for a part time job that only lasts a few months of the year. Especially when one considers that most sports generate next-to-zero net income for the school, and most schools lose money overall on athletics.
If they are not satisfied with that deal, they can play their game someplace else, pay for their own college education, or grow up and get a job. The choice is theirs. Nobody is forced to play any college sport.
If the "problem" is that there is no place for the kids to play for money, that is not resolvable by the colleges. That is resolvable by a group of entrepreneurs who might think they can make a buck sponsoring sports teams comprised of talented Yoots who are not yet ready for the NFL or NBA.
I would be very surprised if the USSC, as currently composed, will allow college athletes to commercialize themselves. It would be very stupid.