slippery slope, but in principal I would be fine if:

1) No mention of their university is made, clothing, logos, etc. They shouldn't be able to recruit for their school by doing a commercial for XYZ brand.

2) Anything earned is placed in a trust. They can remove necessary living expenses while in college, but I don't want a handful of college students living the high life because they are "stars" while the rest labor in relative anonymity pinching pennies. Plus, giving kids a bunch of money is a recipe for disaster when it comes to alcohol and/or drug abuse.