athlete may formally notify the institution of higher education in which the student athlete is enrolled of his or her intent to transfer to another institution of higher education. (b) Effect of transfer (1) In general A student athlete enrolled at an institution of higher education who transfers to another institution of higher education shall be ineligible to participate in any athletic competition sponsored by the National Collegiate Athletic Association during the academic year, beginning at the start of the fall semester and ending at the end of an institution of higher education's final summer session, in which the student athlete entered the transfer portal. (2) Waiver for qualifying events or circumstances (A) In general The National Collegiate Athletic Association may waive the application of paragraph (1) in the case of a student athlete— (i) who has completed 3 years of athletics eligibility