"We can look at a guard, which we probably wouldn't have because I think we need a big guy certainly with the one. The question is do we use it this year or save it," McCaffery said Tuesday.
Dickerson was brought in from Williston (ND) State College, A JUCO, to play point guard this season. He struggled to find playing time and it was announced Monday that his request for a release from his scholarship was granted.
Iowa also will face a void in front court depth in 2015-16. Backup center Gabe Olaseni is a senior and the starter, Adam Woodbury, is a junior. In addition, starting power forward Aaron White will exhaust his eligibility this season.
Iowa signed four players in the spring. Only one, Ahmad Wagner, is a front court player. Brandon Hutton, Andrew Fleming and Isaiah Moss are wings who can handle the ball but wouldn't be considered lead guards.
"(Fleming and Moss) can handle the ball. Fleming has played the point. Isaiah handles the ball really well. Hutton is more of a wing guy, but he's a guard. He can defend a point," McCaffery said.
McCaffery said Iowa could bank one or both scholarships available for 2015. He said it's a fluid situation.
"If you're sitting there with a guy who wants to come, you think he can help your program, do you pass on him because you think you can get somebody better or not? Those are the kinds of decisions that happen quickly," McCaffery said.
With more than 600 players transferring in Division I basketball a year ago, that also could be a possibility for Iowa. But, again, that's a tough dynamic to gauge.
"A lot of times those things happen at the last second. You get a call, so-and-so is available, what do you think? You're looking at film, trying to do background checks on character to make sure you don't make a mistake there," McCaffery said.
"Ultimately, what's important to me is our team chemistry. You start adding a guy who is a fifth-year guy, a transfer that's eligible right away, you want to make sure that they fit not only in terms of what you see on the floor, but they fit in the locker room, they fit with what we're trying to do as a program."
In addition to White and Olaseni being seniors, shooting guard Josh Oglesby is in his final season with Iowa.