They need to just start treating them like the pros. Student athlete sign 3 year contract for X amount of dollars with 20% paid year one, 30% paid year 2 and rest paid year 3. Bonus money if they stay senior year. Schools need to handle the contracts and cut out to rogue boosters and such. If student athlete is caught doing something against rules then hold the athlete responsible and not the school, 1 year ban from sports across all schools/divisions. With no play comes no pay for the athlete. In case of year or career ending injury then have some guaranteed money to be paid to the student and medical bills associated to be paid by school. If athlete transfers from school then have some type of buy-out amount written in the contract that is payed by receiving school and limit transfers to 1-2 only unless extenuating circumstances such as you transfer to a school and the head coach leaves but limit these circumstances, write them out in plain black and white, no grey areas to take advantage of.

you are onto something .... a step further- Money gets doled out weekly/ bi-weekly/ monthly based on an annual "salary" ( not a 100% lump sum paid to the player/ families/agents/hanger ons/ etc).. Kid might not ever see any of it in that case. Figure out what fair annual distribution from collective deal is and help them understand this is how everyone else gets paid, and if you are not good enough to play in the NFL, this is what you will have to learn to live as well. Teach them what it is like to live on a paycheck like everyone else- at least that is a useful lesson for most of these guys unlike philosophy. Collective money never leaves the school. if you hit the portal, the money set aside for your "deal" goes back to the collective. if you do stay, when you get a degree from said university , if there is a balance in your collective account, remainder gets distributed to player.
Let them move freely among team if they want, but NIL given by alumni/donors needs to stay with school it was intended to benefit.

You know I was watching one of the NFL games where they scroll the players across the bottom of the screen and they say which college they played at and realized beginning next year they are gonna be saying two or three different schools instead of one. Ridiculous. The NCAA sucks.