Not unless they change the dates. They declare for the draft in January, signing day is in February and the draft is the end of April, with undrafted players still able to be signed in the weeks after. If they were allowed to return to school, what do you do with the scholarship limit after you signed your incoming class?
What about players that weren't drafted high enough in their minds. Do they have the chance to return as well, similar to baseball?
While it initially sounds like a good idea for the players not good enough to get drafted and for schools to get those developed players back, what about those new guys that were just signed, or the guys that put in the spring practices to help sort out the depth chart? The agent thing is also a huge issue.
There is a reason they allow the grading system before even declaring. If you aren't graded in the top 3 rounds, it's a risk you take in coming out early.
It would be nice to see a way for it to happen, but the points made so far are pretty valid. Many of them declare for the draft, then they sign with agents and the agents immediately give them money. Obviously that part would have to change.
And then there is the whole recruiting deal and how anal they are about scholarships. Teams will be past signing date and then suddenly they may have people to make room for. I don't see how that works.
Right now they get draft grades which should give them a general idea.
But recruiting timeline is moving in the wrong direction with the early signing, making it even more difficult, and I don't see the NFL being in any hurry to change things, unless it's to throw players under the bus for public image.