You guys who say Luck is making a mistake need to look at it from his perspective before anybody calls him an idiot. This is the type of young man who has a different set of priorities than the guy who wrote that article HogFever attached and the few who agree with him.
It's all about perception. He sees completing his education as more valuable. You guys see the money or potential of money lost. It doesn't make this kid an idiot.
If someone like Cam Newton decided to stay for his senior year if he was a Jr., he would be an idiot. His best chance at success in life is his football career. Luck has other options.
Sorry, all the noble stuff just doesn't hold water in this case. An education is a wonderful thing but what is the purpose of going to college? Is it really to become a more educated person or is it to prepare you to be able to enter the profession you want and make more money? If your goal was simply to be educated he could have taken other paths. Certainly playing football at all probably cuts into the time he could be seeking higher education. I've always thought that explanation was a red herring anyway.
If he was selected as a very high first round draft pick, even if they instituted a rigid salary scale, it would have allowed him to make life altering money with his very first contract, probably more than you and I will make in a lifetime. His stock will never have been higher than right now so where is the benefit to his long term future by staying? The college experience? Please.
He may play wonderfully next year and be drafted just as high as he would be this year...but maybe not. There are a million things that can happen between now and then that could change his situation. Besides, do you ever see him going to work at 60-70k a year as an architectural engineer after making 50 million or 10 million or 5 million for his first NFL contract and being a bust (in the worst case scenario)? I can't. So he's staying for a degree he will most likely never use.
He has a narrow window of time to be an NFL quarterback and the rest of his life (and the off-season) for intellectual pursuits. The kid has a right to do whatever he wants. It doesn't change the fact that it's just not that smart.