- IUB Athletics Hall of Fame (2011)
Tolbert won basketball letters as the Hoosiers' starting center in 1978, 1979, 1980 and 1981, co-captain in 1981. A gold medalist on the U.S. 1979 Pan American team, he helped IU to two Big Ten championships and the 1981 NCAA Championship. Tolbert was the 1981 Big Ten (and IU) MVP. The team rebounding leader all four of his seasons, he still ranks in the Top 20 on IU's career scoring list (1,427) and sixth in rebounds (874). A first round draft choice, he played six NBA seasons.