Well, it looks like the Ol' Greybeard's unsourced report on why Marcus Monk is no longer eligible may have been close to right. From a Harry King article in today's Morning News:
"Money that a long-time friend loaned Marcus Monk to help with college expenses came from a third party a source confirmed, a dynamic that made it impossible for the athletic department to argue that Monk should be eligible to play one semester of basketball.
If, indeed, the money had been strictly friend-to-friend, the UA would have vigorously defended Monk's status. Even if the source of the money was a well-meaning person trying to help an exemplary student-athlete pursue an advanced degree, the situation was indefensible. Imagine trying to convince the NCAA that it is OK for a person to pass money to an athlete just because the go-between happens to be a friend."
You should definitely check out the full article.