It is cool, but I don't think it is difference between and education and not. He was in his 3rd year, and if he didn't get the schollie, he wouldn't be able to keep playing, but I am sure he would have gone and found a job and finished his education. He had already paid for 3 years (I expect the money he spent for the 3rd year will be refunded) and was already way to vested in his education to not have completed his degree.
The vast majority of people that go to UNLV have to either be on athletic scholarship or get through school either with a job or combination of job and partial scholarships.