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One solution, very unpalatable for long term fans,... by Kbyrnes

...would be to unlink the varsity football programs from the schools, and instead, have teams that are still called the UT Volunteers, Alabama Crimson Tide, or ND Fighting Irish, but rather than being entities directly owned and controlled by the school, they would become independently incorporated entities that license the brand names from the respective institutions.

The athletes playing for these newly-incorporated entities might still largely be students of the licensor institutions but could not be considered employees of those institutions; they would work for, and have contracts with, the newly incorporated teams. These new entities could form a league or leagues that then feed the NFL without the historical obstacles or processes characteristic of NCAA days--no draft day, etc.; the pro teams would just hire whoever they can (in line, of course, with their own agreements with the pro players' unions, etc.)

Football would continue as owned and operated entities of places like UT, Alabama, and ND as club sports with no scholarships...sort of a glorified interhall status, maybe.