Hmm, that *would* be a bit of a game-changer. Though I don’t expect the former (and future) players would benefit as much as they think they should. Instead I think a lot of the market would dry up as a lot of colleges would consider dropping scholarship sports.
Once it becomes fully mercenary the programs that want to be de facto minor and training leagues for the professional leagues can take that role and the other colleges can move back towards concentrating on education.