Last I read up on this topic...
One of the major complaints student-athlete advocates have is that the LOI locks a student in to a school for four years, but scholarships are only guaranteed on a year to year basis. The school is under no *legal* obligation to continue a scholarship beyond the current year, regardless of what the SA intends to do the following year.
"Travel is fatal to prejudice, bigotry and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the earth all one's lifetime." - Mark Twain "Innocents Abroad"