I personally would like to see the Baseball rule. Option to go pro out of high school, but you must wait three years if you attend college.
This allows those who feel they are ready and want to go straight out of high school. At the same time, it prevents kids from going to college and making a mockery of the academic system (theoretically). If there is a three year requirement, the "student" part of student athlete can't be thrown to the wind. A kid would still have to take classes and make passing grades to remain eligible.
My Quick Smells Like French Toast.