The NCAA announced on Wednesday that the National Letter of Intent program is no more. The rules surrounding a prospect signing with a university will now fully transition to financial aid agreements.

The National Letter of Intent program, which began in 1964, was governed by the Collegiate Commissioners Association (CCA).

Much of the function of the National Letter of Intent will be folded into a new model. Expect recruiting rules surrounding a player signing with a university to remain in place.

According to Ross Dellenger of Yahoo Sports, "Similar recruiting rules tied to the National Letter of Intent will continue with the signing of school aid agreements. They end a prospect’s recruitment. For instance, all communication with the signed prospect and family members must end, and the prospects are prohibited from signing more than one aid agreement prior to enrollment."

The current NCAA rules indicate high school players can't sign a binding financial aid agreement until Signing Day. However, with this move, like any other, there is potential for seismic structural changes to the high school recruiting process. For the time being, signing periods were left unchanged but could be altered and a new or updated mechanism for binding commitments could open the door for a new set of legal challenges.