The National Letter of Intent program is aministered jointly by the National Collegiate Athletic Association (NCAA) and the Collegiate Commissioners Association to regulate the recruitment of high school athletes into collegiate athletic programs. Under this program, prospective student-athletes sign a binding contract, known as a letter of intent, or LOI, under which they agree to attend a participating institution for one academic year in exchange for a year of athletic financial aid. The program forbids a prospective student athlete (PSA) from being recruited after signing an LOI; because LOIs are binding, an athlete's decision to sign marks the end of the recruiting process.