Updated

The Big 12 has announced it will cover the full cost of a student-athlete's attendance and offer multi-year scholarships.

The league announced Monday that Big 12 schools will cover expenses beyond tuition and fees, room and board and supplies that they deem "reasonably related" to attendance.

The league will hand out scholarships that run at least as long as an athlete's period of eligibility.

The Big 12 will also offer aid to former student-athletes seeking to return to school and earn their degree.

The new bylaws will go into effect on August 1, 2015.