My understanding is the same as MidAtlanticDad. The one time transfer rule does not apply during the same school year. If a player goes to school in the fall and gets cut, he is not eligible to play that spring and his clock has started so he will have to take a redshirt year for the spring. That is why we preach know the pond and section of the pond. It is not just the level of play but the right school in that level of play. When son was being recruited, he got lots of P5 interest and lots of SEC interest but UT was the best fit for him not only because of the opportunity to play in the SEC but they did not have a lot of LHP's at the time. Several others that showed interest or offers had several to a bunch of LHP's. When you walk into the first class in the fall you are burning a year one way or another. Make sure it is the right classroom (campus, school, team). it is not just the right coach, or degree, or school you like but as I always say who/how many will you have to beat out to be able to put on a uniform to play against someone of a different uniform.
And there will be a lot of them this year that will be cut or told they are a redshirt. The average SEC school has 45-55 players in the fall. Most D1 schools are not far behind. A lot of kids will be having a tough choice in the next several weeks. A lot of parent's hearts are going to be broken.