I am embarrassed to say that I didn't know this by now, but thanks to Lisa Stone at Parenting Aces, I learned last week that the NCAA proposal allowing juniors to earn $10,000 per year in prize money while still maintaining their amateur status was approved back in late April and is now in effect.
First proposed back in 2007, the rule change, according to the synopsis posted on the ITA's website, permits collecting prize money under these circumstances:
In tennis, prior to full-time collegiate enrollment, an individual may accept up to $10,000 per calendar year in prize money based on his or her place finish or performance in open athletics events (events that are not invitation only). Such prize money may be provided only by the sponsor of an open event in which the individual participates. Once the individual has reached the $10,000 limit in a particular year, he or she may receive additional prize money on a per-event basis, provided such prize money does not exceed the individual's actual and necessary expenses for participation in the event. The calculation of actual and necessary expenses shall not include the expenses or fees of anyone other than the individual (e.g, coach's fees or expenses, parent's expenses).....zootennis