Boston University terminated the varsity football program on homecoming weekend in 1997, during a one-win season in the Atlantic 10.
Players were allowed to keep their four-year scholarships or transfer without NCAA penalties.
At the time of its termination the program ran at an annual loss of $2.91 million.
Boston University has used the former football scholarships to comply with Title IX requirements.
Boston University still fields a club football squad in the modern Yankee Conference.