While congrats are in order to the New York Knicks, here are some facts to consider. The path to the NBA is a longshot at best, and the pathway through the NCAA leads to the best of the best making the NBA. But the journey is not pretty for most.
Only 0.03 percent (or 1 in 3,350) of high school basketball players will play in the NBA and just 1.3 percent (1 in 80) of college-level players will be drafted and play in the NBA. Of those that are fortunate enough to play in the highest level of professional basketball, 21 percent will have gained a college credential along the way. Conversely, 79 percent of NBA players do not graduate from college. At an average salary of $5.85 million, a college education doesn't mean near as much at that point. But for the 98.7 percent of college basketball players who don't get a sniff at the NBA, it matters greatly. Of interest, the NCAA says that 85 percent of men's Division I basketball players earn a degree. However, the federal government says that rate is 48 percent.
One more: Within six years of retirement from the NBA, 60 percent of players are financially destitute.
SOURCE: The Drake Group Education Fund; The New York Times.