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Gaspard played college basketball at Mississippi State, As a freshman in 1978-79 he appeared in 16 games for the Bulldogs, wore No. 42, and averaged 3.6 points, 1.6 rebounds and 0.9 assists while shooting 45.5 percent from the field and 62.5 percent at the foul line for a team that finished 19-9 overall, went 11-7 in the SEC, placed fifth in the conference, and was coached by Jim Hatfield.

That freshman season put him on the court with future Mississippi State standouts such as Jeff Malone and Rickey Brown, and his Mississippi State playing totals came to 58 points, 26 rebounds and 14 assists across those 16 appearances.

In 1979-80 he was back on the Mississippi State roster, this time wearing No. 34, but he did not play and was dismissed from the team while the Bulldogs went 13-14 overall, finished 7-11 in the SEC, placed sixth in the conference, and remained under coach Jim Hatfield.

After leaving Mississippi State, Gaspard spent 1980-81 in transfer status at Idaho State and did not play in games that season before continuing his career at St. Mary’s in San Antonio.

At St. Mary’s, Gaspard became part of a strong Buddy Meyer era and joined key teammates Ricky Hooker and Jai Mahone on a team competing in the Big State Conference and the NAIA national tournament picture.

In 1981-82 he played 20 games for the Rattlers and averaged 17.1 points and 4.8 rebounds while shooting 55.1 percent from the field and 81.8 percent from the free-throw line, which works out to 342 points and 96 rebounds, as St. Mary’s finished 19-10 overall, went 8-4 in the Big State Conference to finish first, won the NAIA District IV title, and advanced to the NAIA Round of 16, with Gaspard also earning all-conference recognition alongside Hooker that season.

He returned in 1982-83 and played 32 games as St. Mary’s went 26-7 overall, finished a perfect 10-0 in Big State play, repeated as conference champion, again won the NAIA District IV championship, and again reached the NAIA Round of 16 under Meyer.

Gaspard averaged 13.1 points per game in 1982-83, giving him 418 points for the season, and his two-year St. Mary’s totals finished at 760 points, 253 rebounds and 79 assists in 52 games, with overall shooting marks of 54.3 percent from the field and 78.8 percent at the line, plus career averages there of 14.6 points, 4.9 rebounds and 1.5 assists per game.

During that 1982-83 campaign he earned NAIA honorable mention All-American honours, added further conference recognition with Hooker, Jai Mahone and Curt Thomas also featuring among the team’s honoured players, and helped St. Mary’s extend its run of national tournament appearances.

One of the defining postseason moments of his St. Mary’s career came when the Rattlers beat third-ranked Xavier of Louisiana 73-57 in the NAIA national tournament before falling 53-63 to eventual champion South Carolina-Spartanburg in the next round.

By the end of his college career, Gaspard had gone from a limited freshman role in the SEC to a major scorer on the NAIA level, and his 1982-83 senior season at St. Mary’s led directly to his selection by the San Antonio Spurs with the 203rd overall pick in the 1983 NBA Draft.