I'm actually ok with the smaller schools struggling to pay their players. Then maybe they will drop the sport! All big east teams should drop football anyways. And if you can't self sustain paying these kids $1200-$1500 a month for 5 months after the tens of millions these major programs bring in from football then drop the program or make FCS football no pay for play and all the smaller FBS schools drop down a level and run that division like everything is run now, play for schollies!
Do you have any idea how many universities can't legitimately afford to pay their players? In 2010, only 22 of 120 Division I-A athletic programs turned a profit. I couldn't find the 2011 numbers, but I'm sure they're not vastly different. If universities can't afford to pay players, they should drop football? You're essentially telling thousands of student athletes "Your university is poor, now go away."
The overwhelming issue is outside the realm of football - it trickles down to the other sports. There are handfuls of schools, namely Duke, North Carolina, Kansas, Kentucky, etc., who make their money because of basketball, not football. Do these players deserve to be paid too, given they're more valuable to their respective universities than the football players? In extension, how is it fair then to all the other hundreds of student athletes who play sports like baseball, softball, tennis or soccer? Sure, they don't bring in the big bucks, but they put in just as much effort into their sports as the popular sport athletes do.
I believe student athletes are taken advantage of. Literally speaking we should name them all property of their respective universities. I also believe student athletes should be given extra money to help out with expenses, given their time constraints and the effort they put into their team. But I have yet to see someone come up with a legitimate, effective plan that wouldn't punish the less fortunate schools. There's simply no way that we can pay all college athletes, even all division one athletes, in a fair and unbiased way. People think there's parity in college sports now? Imagine how bad it would be if some schools could pay their players and others couldn't.