https://www.cbssports.com/college-football/news/sec-lifts-ban-on-accepting-graduate-student-transfers/
Now the SEC will allow schools to accept grad student transfers without a waiver if the transfers meet certain standards. Among the criteria for the transfer: always stayed eligible as an undergrad; no significant disciplinary issues at the old school; and earned all possible APR points. If a player doesn't meet those standards, a school can still go through the current process of seeking a waiver from the SEC office.
Once the transfer comes to an SEC school, the rule requires the player to make progress toward a graduate degree. If that doesn’t happen, the university won’t be able to apply the grad-student exception in that athlete’s sport for three years.