Colleges have a lot of blame in the system that we have right now and the players are taking all of the risk. It really boils down to a couple issues. Coaches salaries and facilities. That is where majority of the money is going to. If you put at least a quarter of that money back to the student athlete in a higher stipend, benefits, insurance, etc. I think that is about as good of a system as you could hope for. They also now have the ability to get paid on their image and likeness. The student athlete is also getting School paid for. Then if there was a minor league system, you give everyone that option as well.
Hell, I would bet anything that a lot of these student athletes would find that a system like the above would be better than anything they find the rest of their lives, except for playing professionally.
Ultimately, if they ever start paying players, it won't be very much. Schools can't take on what they already are, plus a salary and insurance. I think the student athletes will find that 10-20,000 a year was a stupid choice when the School has to take out everything else. Then facilities will deteriorate along with everything else and we are back to this same discussion in 10 years.