Virginia Tech Carilion Court at Cassell Coliseum

Half a million dollars. That's how much money a year the Carilion Clinic will pay Virginia Tech over the next ten years for naming rights of the Cassell Coliseum floor.

"This naming reflects the growing partnership between Carilion Clinic and Virginia Tech, and the commitment our organizations both have to our region," Virginia Tech President Timothy D. Sands said in a release. "This public-private partnership can be seen in our Virginia Tech Carilion School of Medicine and Research Institute, and now it will be highlighted to even greater degree in the name of our most prominent court."

According to Virginia Tech Director of Athletics Whit Babcock, the sponsorship will help fund scholarships and improvements to Cassell Coliseum which will benefit multiple programs, including Hokies men's and women's basketball, volleyball, and wrestling.

"Virginia Tech athletics and Carilion are committed to the continued wellness and good health of our friends and neighbors across the greater New River Valley and Roanoke region," Babcock said in a release. "We hope the Hokies can inspire others to participate in sports, to stay active, and to get out and exercise. Participating in sports provides numerous benefits to our youth. I am a product of the student-athlete experience and I believe in all that it teaches, from youth sports through the college ranks. Carilion's support will help us to do even more to promote healthy lifestyles on campus and in our community."

"Championship-level teams have to attract top student-athletes," Babcock added. "We want to be the best in the ACC in all facets – that's our goal. Scholarships and facilities are two very important keys to those objectives, and this partnership is another way to help the Hokies maintain a competitive edge. We are extremely proud of our partnership with Carilion. They are committed to the success and well-being of the Hokie Nation."

Earlier this year Virginia Tech and the Hokie Club announced the 110% Hokie Campaign to help cover the new total cost of attendance for studant athletes at Tech.

For more than 40 years, the maximum allowable NCAA Division I athletics scholarship covered tuition, fees, room, board, and books but not the incidental personal costs of attending college. Beginning August 1, 2015, that will change.

In January 2014, the NCAA passed legislation allowing institutions to pay a student-athletes full cost of attendance (COA), essentially covering the scholarship "gap." These scholarship enhancements (of $3,280 for in-state and $3,620 for out-of-state at Virginia Tech) will increase the total scholarship bill by approximately $950,000, to approximately $12.9 million annually.

A student's cost of attendance is an estimate of the expenses designed to represent his/her projected annual cost to attend a specific college or university. Each school's financial aid office determines COA, using broad federal guidelines originating from the Higher Education Act of 1965. The cost of attendance number serves as a maximum, and comprises only those expenses that are directly related to college attendance. Typical items include tuition, fees, room, board, books, and now, miscellaneous personal expenses, transportation home, etc.