LOUISVILLE, KY – NOVEMBER 09: A general view of the Louisville Cardinals game against the College of Charleston Cougars at KFC YUM! Center on November 9, 2013 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)

The University of Louisville, as a tax-exempt corporation large American university, has lots and lots of money. It has an endowment nearing $900 million and pays its head coaches a total of nearly $12 million.

However, the university will not be paying $38,000 to one of its students, who won a $38,000 shot contest at a Louisville women’s basketball game.

According to the Louisville Courier-Journal, sophomore Jackson Logsdon will not collect the winnings he should have gotten for hitting a layup, three-pointer and half-court shot because he played high school basketball.

U of L athletics spokesman Ira Green confirmed the details in an email Friday, writing, “The contest was administered by Million Dollar Media, and unfortunately, the student didn’t meet a couple of the stipulations, which are very specific. However, we are excited for him and are working on some items, so he doesn’t go away empty handed.”

You know what’s assuredly better than “some items?” $38,000, which the University of Louisville and/or Million Dollar Media—a company with this sketchy-looking 2005-era website—should pay Logsdon.

For his part, Logsdon said he wasn’t a very good high school player, and that he “mostly came off the bench as a senior.” That really shouldn’t be a disqualifying factor, but if Logsdon was ineligible to win it’s unclear why he was even allowed to participate in the first place.

Colleges: Screwing you out of money even when it finally looks like you got a way to get some money back.

About Kevin Trahan

Kevin mostly covers college football and college basketball, with an emphasis on NCAA issues and other legal issues in sports. He is also an incoming law student. He's written for SB Nation, USA Today, VICE Sports, The Guardian and The Wall Street Journal, among others. He is a graduate of Northwestern University.