Prior literature related to moral issues in sports have focused primarily on the moral pitfalls associated with collegiate athletes and teams (Butcher & Schneider, 1998; Fraleigh, 2003; Lyons, 2015). Collegiate athletes, therefore, may often be perceived by the public as lacking moral reasoning traits due to the negative perception held toward this demographic. To explore this problem, this quantitative study investigated the moral reasoning of collegiate athletes at a selected faith-based higher education institution in the southern United States and the perceived value and benefit held by these athletes toward the NAIA Champions of Character Initiative. A total of 185 student athletes served as the sample for this study, which involved responding to 16 dilemmas that commonly occur in sports and follow-up questions related to the perceived value held toward moral development education programs. Statistical tests completed for the collected data pointed to at least four key findings: (a) neither a correlation nor statistically significant difference was demonstrated regarding moral reasoning and the perceived value and benefit held toward the NAIA Champions of Character Initiative; (b) female athletes morally reasoned at a higher level than their male counterparts; (c) there was not a statistically significant difference demonstrated among respondents regarding their overall level of moral reasoning based on grade level and length of sports participation; and (d) there was not a statistically significant difference demonstrated among respondents regarding the perceived value held toward the NAIA Champions of Character Initiative based on gender, grade level, and length of sports participation. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]