Just to expound a bit on Nexus' reply:
15.5.6 Football Limitations.
15.5.6.1 Bowl Subdivision Football. [FBS] There shall be an annual limit of 25 on the number of initial counters (per Bylaw 15.02.3.1) and an annual limit of 85 on the total number of counters (including initial counters) in football at each institution. (Revised: 1/10/91 effective 8/1/92, 12/15/06)
15.02.3 Counter. A “counter” is an individual who is receiving institutional financial aid that is countable against the aid limitations in a sport.
15.02.3.1 Initial Counter. [FBS/FCS] An “initial counter” is a counter who is receiving countable financial aid in a sport for the first time. (See Bylaw 15.5.6.3 in football for instances in which the institution is permitted to defer the counting of such financial aid until the following academic year.)
15.02.4 Financial Aid. “Financial aid” is funds provided to student-athletes from various sources to pay or assist in paying their cost of education at the institution. As used in NCAA legislation, “financial aid” includes all institutional financial aid and other permissible financial aid as set forth below. (See Bylaws 15.01.6.1, 15.01.6.2, 16.2, 16.3 and 16.4.) (Revised: 5/26/09)
15.02.4.1 Institutional Financial Aid. The following sources of financial aid are considered to be institutional financial aid:
(a) All funds administered by the institution, which include but are not limited to the following: (Revised: 1/11/94 effective 8/1/94, 1/14/97 effective 8/1/97)
(1) Scholarships;
(2) Grants;
(3) Tuition waivers;
(4) Employee dependent tuition benefits, unless the parent or the legal guardian of a student-athlete has been employed as a full-time faculty/staff member for a minimum of five years; and (Revised: 4/26/01 effective 8/1/01, 10/31/02 effective 8/1/03)
(5) Loans. (Revised: 10/31/02 effective 8/1/03)
(B) Aid from government or private sources for which the institution is responsible for selecting the recipient or determining the amount of aid, or providing matching or supplementary funds for a previously determined recipient; and (Revised: 10/31/02 effective 8/1/03)
© For the student-athlete recruited by the institution, financial aid awarded through an established and continuing outside program (e.g., National Football Foundation) for the recognition of outstanding high school graduates in which athletics participation may be a major criterion, as outlined in Bylaw 15.2.6.4. This aid counts against an institution’s sport-by-sport financial aid limitations and also against the individual’s full-grant-in-aid limit. (Revised: 10/31/02 effective 8/1/03)
15.02.4.2 Other Permissible Financial Aid. The following sources of financial aid are also permitted:
(a) Financial aid received from anyone upon whom the student-athlete is naturally or legally dependent;
(B) Financial aid awarded solely on bases having no relationship to athletics ability;
© Financial aid awarded through an established and continuing outside program (e.g., National Merit Scholar) in which athletics participation is not the major criterion, as outlined in Bylaw 15.2.6.3, and which does not count against an institution’s sport-by-sport financial aid limitations; (Revised: 4/29/04 effective 8/1/04)
(d) For the student-athlete not recruited by the institution, financial aid awarded through an established and continuing outside program (e.g., National Football Foundation) for the recognition of outstanding high school graduates, in which athletics participation may be a major criterion, as outlined in Bylaw 15.2.6.4. This aid does not count against an institution’s sport-by-sport financial aid limitations but does count against the individual’s full-grant-in-aid limit; and
(e) Educational expenses awarded by the U.S. Olympic Committee, which count against an institution’s sport-by-sport financial aid limitations and against the individual’s full-grant-in-aid limit. (Adopted: 1/10/95 effective 8/1/95)
15.5.1.2 Football or Basketball, Varsity Competition. In football or basketball, a student-athlete who was recruited by the awarding institution and who receives institutional financial aid (as set forth in Bylaw 15.02.4.1) granted without regard in any degree to athletics ability does not have to be counted until the student-athlete engages in varsity intercollegiate competition (as opposed to freshman, B-team, subvarsity, intramural or club competition) in those sports. For this provision to be applicable, there shall be on file in the office of the athletics director certification by the faculty athletics representative, the admissions officer and the chair of the financial aid committee that the student’s admission and financial aid were granted without regard in any degree to athletics ability. (Revised: 1/16/93 effective 8/1/93, 1/11/94, 6/20/04)
15.5.1.2.1 Football or Basketball—Partial Qualifier. [Note: The following bylaw applies to student-athletes who first enrolled in a collegiate institution full time prior to August 1, 2005.] In football or basketball, a student-athlete who is a partial qualifier and who was recruited by the awarding institution and who receives institutional financial aid that is not from athletics sources and that is based on financial need only shall be a counter and included in the maximum awards limitations set forth in this bylaw when the student-athlete participates in an institutional practice session or represents the institution against outside competition. (Revised: 1/16/93 effective 8/1/93, 1/11/94)
15.5.1.2.2 Exception—Receipt of Institutional Academic Aid Only. In football or basketball, a student-athlete who was recruited by the awarding institution and whose only source of institutional financial aid is academic aid based solely on the recipient’s academic record at the certifying institution, awarded independently of athletics interests and in amounts consistent with the pattern of all such awards made by the institution, may compete without counting in the institution’s financial aid team limits, provided he or she has completed at least one academic year of full-time enrollment at the certifying institution and has achieved a cumulative grade-point average of at least 3.300 (on a 4.000 scale) at the certifying institution. (Adopted: 10/27/05 effective 8/1/06)
