Higher Education institutions in Korea are undergoing restructuring in response to the government reform policy. As one aspect of the restructuring, many colleges are reducing or abolishing the athletic programmes. This study investigated the value of athletic programmes for college students by using the contingent valuation method. The results of a multivariate survival analysis with a convenience sample of 372 undergraduate students indicate that the monetary value of the willingness of a student to pay for athletic programmes was about KRW 116,000 per semester. Students' level of involvement with and knowledge about intercollegiate athletics, as well as monthly allowance and year in college have positive effects on willingness to pay for athletic programmes.