What does this translate to?  How much should I expect to pay?  This is what I believe is correct.

For ease of numbers, let's say a team plans on carrying 24 players on their team.  A 'fully funded' Division I team can offer the equivalent of 12 full ride scholarships for the team.  The 12 full rides will have to be distributed between the 24 players by however the coach sees fit.  They can hand out 12 'full ride' scholarships and nothing to the remaining 12 players, they could offer 24 'half ride' scholarships, they could hand out 3 'full rides' and the nine remaining could be divided between the remaining 21 players.  I think you get the picture.

Academic money.  If an athlete has good enough grades to qualify for Academic money, the coach can apply for money from the Academic department.  This will offset some of the costs and, in turn, can increase the amount of 'total scholarship' money he/she is able to hand out to potential athletes.  Let's say, again for numbers sake, that all 24 players can qualify for a 50% of their schooling costs.  This will enable the coach to offer 24 'full ride scholarships' to the 24 players.  All 24 would receive a 'half ride Athletic scholarship and a 'half ride Academic scholarship.  So this is the reason the experts say that having good grades is very important.

Take note of the number of scholarships that each division is allowed to offer.  Division II schools are only allowed to offer 7.2 full ride scholarships.  As you can imagine, that cuts the pie even smaller. 

Is it possible to get a full 'athletic' ride scholarship?  Yes, but you would have to be an IMPACT player to attract that kind of money (and share of the athletic scholarship money pie).  Most aren't so athletes are best to concentrate on their grades to make up the difference.

What does fully funded mean?  All schools don't have to offer the maximum.  Typically, schools with the bigger budgets are fully funded.  Example, teams with football teams as they attract the money (sponsors, television and gate money, etc).