1. Where does the money come from?
Each school will have to decide if they want to spend the extra money to keep the Corona Seniors. They are not required to honor any scholarships but they will for their studs. I think most coaches will find money for a 5th year stud. 5th year non-stud, probably not. The P5's will have access to some money and the lower level D1's will tell their seniors except maybe 1 or 2 sorry we would love to have you but we can't give you anything.
2. What will the seniors do/or be allowed to do?
They should be able to transfer. I think that will definitely pass in June because they will need it to keep some rosters down so the schools will vote for it.
3. Will schools be able to honor their 2020/2021 commits?
Not all of them. They will tell some of them that are walk-ons and preferred walk-ons they can come to fall but will not have room for them in the spring and they will tell some. Sorry, it was the virus' fault but we don't have room for you now. Hopefully sooner than later. If I'm a 2021, I'm talking to my commitment school in about 3/4 weeks, not today because they will not have a truthful answer. They will tell you what you want to hear. But after they have time to figure it out I think many coaches will do the right thing and tell their recruits they don't have room for them. I don't think very few know today until they talk to their returning players and find out what their seniors and juniors are going to do.
4. Will kids panic and transfer to other schools?
YES. But where. Everybody is in the same boat so unless you are going down a level there is no where to go. By that I mean, if you are an SEC recruit and going to a lower level P5 or mid-major or juco. I know a few jucos that are licking their lips because they know they are going to get some studs that are at P5's or were going to P5's. You can bet your bottom dollar that there are some deals being done today between P5 coaches and their juco buddies to send some guys their way then get them back. I don't think it will just be 2020s and 2021s. I think the big losers could be 2022s and 2023s because they might not get recruited heavily. If you are not a stud in those classes you might have to work even harder to get seen. Especially if there is no summer ball this year.
5. Will there be a load of walk ons now with kids not playing?
No. Fewer true walk-ons because there will be more preferred walk-ons. I don't think there will be hardly any room for true walk-ons. There could be 5-10 extra players with some on scholarship that would not have been there.
6. IVY's are not allowing seniors to stay so will they benefit?
No. Why would you not allow your stud senior who was not drafted to come back for another shot rather than take $20,000.