Absolutely.
Colleges and athletic departments are very motivated to attract great athletes to their programs. Even in tough financial times, athletic departments are well-funded because winning teams boost attendance, maintain alumni support, and lift student morale. 
In fact, the Knight Commission on Intercollegiate Athletics reported that the increase in major college athletics spending between 2005 and 2008 was four to eleven times greater than was spending on academics. 
A USA Today study ("Athletic Spending Grows As Academic Funds Dry Up") showed that the average college's athletic budget rose by 25% between 1995 and 2001, while university spending increased only 10%. Not everyone on campus is happy about the favoritism towards the athletic budget, but it's reality. It's good news for student-athletes.
Over 126,000 student-athletes receive athletic scholarships each year from NCAA Division I and II schools alone. (Division III schools aren't allowed to offer athletic scholarships, but unofficially compensate by offering other forms of non-athletic financial aid to academically and financially qualifying student-athletes they want to recruit.)
How many athletic scholarships are there?
There is even more good news for those seeking athletic scholarships: Athletic departments at NCAA colleges spend in excess of $4 billion per year on their athletic programs. And roughly one quarter of their budget($1 billion) is awarded annually as scholarships to student-athletes!
Over 126,000 student-athletes receive athletic scholarships each year from NCAA Division I and II schools alone. (Division III schools aren't allowed to offer athletic scholarships, but unofficially compensate by offering other forms of non-athletic financial aid to academically and financially qualifying student-athletes they want to recruit.)
How many student-athletes are competing for these scholarships?
NCAA's 1,265 member colleges and universities report that they have more than 355,000 student-athletes playing each year. Approximately 36% of these NCAA student-athletes receive a share of the $1 billion earmarked for athletic scholarships.
NAIA's 299 colleges and universities report that they have over 46,000 student-athletes playing each year. Though NAIA doesn't track scholarship or financial aid statistics, they do report that over 90% of NAIA institutions offer athletic scholarships.
What are the odds of playing at the Collegiate level?
Only outstanding student-athletes are likely to make the jump from high school to collegiate play. NCAA recently published approximate statistics for several sports, comparing the number of graduating High School athletes to incoming College Freshman athletes. They show that the number of NCAA Freshman roster positions in the surveyed sports runs between 3% and 13% of graduating High School Senior student-athletes. (Note: these figures don't include the NAIA colleges or the Junior Colleges.)