I do not think schools will face liability for failing to provide tax and financial planning advice. Nevertheless, IMHO it is wise for schools to set up robust quality programs to do so for the long term benefit of their recruited athletes and programs receiving econimic benefits beyond non-taxable scholarships. There is some risk to schools in entering that space and it must be done with skill and care. I would expect that a larg part of the advice from such programs would be to urge individuals to get a sound personal advisor or advisors with certain registrations, education, certification and even affiliations that can provide some indication of sound training, expertise, supervision, and most importantly ethical standards - all to protect from embezlement, fraud, abuse, and really stupid decisions like an athlete making a large concentrated investment (high % of net worth) into a start up business.
State income tax liaiblities often a modest part of the tax planning and tax compliance challenges - more the tail of the dog that is federal income tax compliance and planning than the dog itself.