It’s odd, but the college transfer portal has a greater benefit to high school players than college. Almost half of the players in the portal don’t get picked up and the rules now allow schools to sign as many players as they want each year so long as they stay within the total team limit. Some teams (Bama, OSU, etc) do well enough with HS recruiting that they can be really selective on picking up any transfers and don’t have to take as many risks on guys in the portal as the potential reward (greater ceiling) is higher with a HS recruit. The overall number of available scholarships have not changed and, if half of the players in the portal aren’t picked up, that frees schools to sign that many more high schoolers. That leaves the college player that had been on scholarship, but elected to enter the portal, now swinging in the wind with no scholarship and very limited options.
If a player has a scholarship, they should think long and hard before putting their name in the portal as they may be completely giving up their chance at an education, depending on their family’s means. A lot of players’ only opportunity at a college education is based on getting that scholarship. I’d have a hard time advising anyone to give up their scholarship, and possibly their chance at a college education altogether, with an approximate 50% fail rate. High school players are being given more opportunities at the expense of these college players who are losing/giving up their scholarships. While they are sometimes told by the coaching staff to look for other opportunities, I truly hate it for those players if done voluntarily based on bad info or advice. You have the free ride. Unless there’s some serious mitigating circumstances, don’t risk your future over playing time (most don’t get to the NFL anyway).