If we're talking principle, then the amount of money "made" off someone- student or athlete- is irrelevant. And I think to have a legitimate argument, you have to work off principle. And the educational aspect holds more water now than ever- have you seen what college education costs, especially relative to inflation and adjusting for dollar-value 30-40 years ago? It's a gross disservice and insult to people who have to actually pay for one to dismiss the cost. The "value" is a different discussion.
Whether the current popular players' jerseys are available doesn't change the fact that if you bought a #11 in 2009, you're still wearing it (no reason not to) in 2013. Airyn Willis probably thanks you for that but the fact remains that with the exception of retired numbers, the player doesn't own the number in perpetuity. And given the bank of numbers allotted to each position/group, odds are good that eventually another popular player will wear that number again. Ask Frank Johnson about that one.
You're right, we shouldn't be talking about money "made off someone", we should be talking about the marginal value of the player's services. Since there is no functioning market for college football players, how do we determine the marginal value of their services? One proxy is the profitability of the programs they play for.
If Clowney and the rest of the SC starters were playing in a D-league somewhere and SC was still one of the bottomfeeders of the SEC, what would the revenue of the athletic department look like? (May be a bad example because SC fans are crazy, but you get the point). Clearly, there is a marginal value to the school to have Clowney play ball for them instead of some skinny slow dude. Does that marginal value exceed the value of the education SC is allegedly giving him?
Total sticker price of SC education for out of state student is about $35K per their website, times 85 schollies is $2,975,000 (over estimate as I'm sure many of their players are in-state). Tuition is a reasonable proxy for the value of the education. Remember most of that is funded by the booster clubs at most schools, so it's not like the school just deducts it from their bottom line - they have revenue from fans to cover it. That's not directly germane to this discussion but it is worth noting.
Total profit from SC football is $22 million according to this site (can't vouch for its accuracy, first Google result)
http://college-sports.findthedata.org/q/13536/3448/How-much-profit-does-the-University-of-South-Carolina-Columbia-Football-team-in-Columbia-South-Carolina-make. That's after they pay Steve Spurrier however many millions he makes, plus the other coaches, plus the AD, etc. So a whole of non-players are making bank, and there's still $22,000,000 (or 10X the cost of the schollies) to go around.
Now take Wake Forest, which as we know barely breaks even on football, and has a bigger scholarship cost. Using this simple proxy, it appears to me that the services of elite athletes like Clowney adds substantial marginal value to the University of South Carolina, at least more than the marginal value Tanner Price and his friends are adding to WFU.
That doesn't mean that all $22,000,000 has to be divided up amongst the football players, but it does strongly indicate that the adults running college football are getting substantial marginal value out of the players under their supervision, in some cases well over and above the value of the education rendered.