It would. The incestuous relationship between money-making sports with rosters containing many unqualified "students" getting scholarships and the fake students only looking for a ride to multi-million dollar pro careers makes a mockery out of college education. Pay the athletes? Their scholarships are pay...it's to play sports, not to excel in the classroom. Baseball's minor league setup which keeps preparation for the pros out of college is a much better setup.
Perhaps football doesn't belong in colleges at all. Let the programs be run by the private sector in affiliation with the NFL.
It doesn't belong in high school or middles school, either! These teams are nothing more than tax-supported farm teams as well.