After the CTGFFL Championship Game, each team will designate whether they want to extend the scholarship of certain college players.  Each team can extend the scholarship of one player per year of eligibility (in other words, one frosh, one sophomore, and one junior).  Once extended a scholarship, that player will/must remain on the CTGFFL team until he leaves his college team (by graduating, getting kicked off, etc.)  Let me make this point again: once a scholarship is extended to a player, it can not be taken away.  Each CTGFFL team does not have to extend a scholarship even if they have one open.  I think an example is needed:

The Orlando Cormorants extend a scholarship to Drew Brees (a junior) of Purdue after the 1999 season.  The Cormorants will/must have him on their team for the next two years, unless he leaves Purdue.  If he goes to another college, he enters the pool of draftable players.  If he goes to the NFL, he falls under the CTG rule:  He can be kept his first NFL season for the last pick the Cormorants have in the draft.  After that year, he falls under the DV (Draft Value) rule to be discussed later.  The Cormorants can not extend a scholarship to Jamal Lewis because he is also a junior.  They also extend a scholarship to Peter Warrick (a senior) of Florida State and Quincy Carter (a sophomore) of Georgia.  They choose not to extend a scholarship to any of their freshmen.  At the end of next year, they will have the ability to extend a scholarship to any of their freshmen (because Warrick's scholarship has run out) and/or any of their sophomores (because they did not extend a scholarship to any of their freshmen this year).  They can not extend a scholarship to any of their juniors because that slot is taken by Carter or seniors because that slot is taken by Brees (unless, of course, either one leaves college early for the NFL).

Speaking of the NFL, on to the Draft Value rule.