Should collegiate athletes get paid? The simple answer to this question is a big YES!!
The teams make just as much money as professional team would. Both college athletics and professional sports are on national and regional television. Both have video games portraying the likenesses of their respective players. What's the only difference? One gets paid, the other gets an "education".
And the reason I put education in quotations is because most collegiate athletes (good ones who are worth being paid anyways) declare for the draft in their respective professional league well before they graduate. So I can only assume that the education that the players receive is halfhearted and not up to par with what other on-campus students do.
Now I am in no way saying that "pay for play" is a good idea, because it isn't. However, the NCAA can and will use the Olympic model. What is the Olympic model you ask? Well it is the idea that you can't be paid for participating in the athletic event, but you CAN be compensated for endorsement, merchandise royalties, player likenesses in games, and things of that nature.
So in conclusion, this deal would work for everyone involved. The players still get to play and get their "education" while getting a somewhat steady income. The universities still get the same income they previously got. And everyone went on to live happily ever after!