This article aims to review current literature on the enrollment and retention of student athletes at NCAA Division III institutions. However, the review identifies very few studies that specifically focused on Division III programs and none that looks at the influence of financial aid on the enrollment and retention of student athletes at Division III institutions. Discussing and connecting research from student athletes' experiences at Division I institutions as well as research on influences of student aid on college students, this literature review offers some insight on how student aid might influence college enrollment and retention for student athletes at Division III institutions.