Braxton Miller will be eligible to play immediately for another FBS upon graduating this spring, assuming his shoulder heals okay.
Queue the morons from another website: "Shawn-O said Braxton Miller's transferring to UND..."
http://www.nfl.com/news/story/0ap3000000457281/article/aaron-rodgers-explains-mystery-of-new-york-bozo
JJ Wilcox responds by fake drinking a beer. Hilarious!
University of New Hampshire is a similar situation where they seem to have success in both, by and large. They are somewhat down in hockey this year but they always seem to be in the hunt in both sports. So it's doable.