A counter argument might be that we'd be robbing these kids of higher education and a brighter future, if they don't make it into the "big leagues".
I've had this idea circling in my head for a while now (not that I could do anything with it), and I'm still not sure what exactly to do about that counter argument. I think from a PR perspective, the league owners would have to agree to set up some kind of program to get their players all the available information for local colleges, and encourage them to do what they can to attend. Maybe have some on staff tutors, some people who can help them apply for scholarships, loans and grants, or look at vocational school options (America needs more skilled trade workers anyway). Basically just something to prepare them for life after football, (since most still won't make it to the NFL).
Like you mentioned, the lower salaries can help bring some sanity to the whole business. Teams can have financial advisors on staff to help guys manage their money, but if the salaries aren't exorbitant, I'm wagering a lot of these guys would be more careful about their money. In a strange way, it's probably easier to blow $5-million than (random figure) $70,000, because the former gives some guys the illusion that it will last forever, no matter how much they spend. $70,000 is still
really good money just to be playing football, but it's also enough to force you to be responsible, or at least reasonable.
How 'bout the season? Do they play in autumn/winter, or off season?
Ya know, that's the one area where I'm really not sure what would work best. But since we're all pitching in, I'm open to ideas! (Places $20 in the League Fund Jar).