The loan would reportedly provide a maximum of $83 million for each university, per the San Jose Mercury News' Jon Wilner.
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Big Ten players are also asking for COVID-19 liability waivers to be waived for the 2020 season.
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Big Ten teams are slated to play a 10-game conference schedule over 13 weeks. The season will start on Sept. 3 with Ohio State and Illinois.
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UConn is the first FBS team to cancel its 2020 season due to the ongoing pandemic.
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As college football takes steps toward a 2020 season, the virus's impact is being felt among some of its athletes.
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