Great thread on Audibles, where a knowledgable poster has said here are the 3 NCAA rules that Bolden is going to face:
Begining of quote from Audibles poster:
"There are (at least) three rules at work here.
One is the NLI rule. Without a release, that will cost him a year of eligibility at his new school. Because Bolden is a true freshman and also did not early enroll, he is still under the NLI guidelines until the end of his second semester. Penn State could release Bolden from this requirement.
Two is the NCAA transfer rule. That would force him to sit out a year at his new school but he could use a redshirt year during that year. The NCAA transfer rule is not something that PSU can release him from. Under certain circumstances this rule can be waived by the NCAA but Bolden is not likely to meet any of the special circumstances so he will have to sit out a year if he transfers to an FBS school with or without a release from PSU.
Three is the NCAA's no contact rule. That says that Bolden can not be contacted by another athletic department without a waiver from his current school. Penn State could release Bolden from this requirement but it is a separate release than the NLI release. This is the rule that prevents Bolden from being on scholarship. "
End of quote
So here's the implications:
1. Bolden can't leave until this summer without a release from his LOI, unless he wants to only have 2 seasons of playing football for whichever school he then attends, regardless of redshirt or anything else. Bet on him staying until July.
2. Even if he leaves this summer, he may still have to pay his own way for a year before getting a new scholarship, that is if PSU doesn't sign a release from the 3rd rule.
3. All 3 rules apply, there's no getting out of any of them.
What is so interesting to me is that Bolden is being denied a release from his LOI, which is totally different than being released from scholarship like we have already done with Devlin, and were likely to do with Newsome. The fact that Bolden is a true freshman and didn't enroll early is what makes this situation so unique.
Thanks to UncleLar from Audibles for this info, assuming it's accurate.