The College Athlete Economic Freedom Act establishes federal protections allowing college athletes to earn money from their names, images, and likenesses (NIL) without interference from schools or athletic associations. The bill requires colleges to provide equal NIL opportunities across all athletes regardless of gender, race, or sport, permits athletes to hire agents and lawyers, and mandates that NIL collectives register with the Federal Trade Commission and publicly report how compensation is distributed among different demographic groups. The legislation also allows international students on F-1 visas to participate in NIL activities without jeopardizing their visa status. Enforcement is handled through the FTC and private lawsuits, with the bill's protections overriding any conflicting state laws.