I would have no problem allowing students to transfer schools between their freshman and sophomore seasons. Young people often have no concept of what they are getting into. I would allow them a mulligan to correct a bad commitment choice. Of course there would also be some negative affects with respect to that as well, but you can't have everything.
The idea of paying students like they were professionals is totally absurd. To say that schools are taking advantage of student-athletes is really silly. The best college teams would be no match for any low-level professional team. And those low-level professional teams get pocket change. The only reason that college teams draw fans is because of their affiliation with the college. Take away that affiliation and no one would go to see those games. Heck, no one goes to watch college Olympic sports anyway. In the case of women basketball, even the WNBA can barely support themselves and most of those players make less than the cost of a high-level college's tuition. Even the higher paying Euro league teams hardly get fans support and usually get funded by corporations or the city they play in.
Let us be honest, would anyone except a die-hard WBB fan even watch their own team if it were a simi pro team with no school loyalty connection. There are many cities that have simi pro teams of very good ex college players who no one ever goes to see. It is the school affiliation that makes college sports a draw.