According to IVY rules: "Athletes shall be admitted as students and awarded financial aid only on the basis of the same academic standards and economic need as are applied to all other students."
And unlike NCAA Division I teams, IVY don't offer athleteic scholarships. All finiancial aids are need-based.
Of course, being a good athlete gives one preference in the admission process. But one's academic achievements would have to be comparable to other qualified candidates. In addition, unlike many NCAA Division I schools, studen athletes in IVY League schools have to actually keep up in their study like other students.
