Waters is completing 71.3% of his passes and has thrown for 1,444 yards, 18 touchdowns, and just three interceptions as Iowa Western is 5-0. He is coming off a freshman season where he threw for 2,700 yards and 26 scores while also rushing for 400 yards.
"Our season is going really good," said Waters. "We're undefeated and the No. 1 team in the country, and we've already beat four top 25 teams.
"We knew we had some talent coming back and transfers coming in, but we didn't know we would be doing this well right now. We knew we could do it, but I think we're still a little surprised I guess. But, we're playing great."
What does Waters thinks are the strengths to his game?
"I can extend the play with my legs, but I'm a passer first," he said. "I'm an accurate passer with a quick release, and I think I'm a pretty good leader out there too."
The 6-foot-2, 210-pounder held an offer from Akron when he landed his first high-major scholarship on Tuesday. NC State informed Waters that he had offer to play for the Wolfpack, and he was thrilled to receive the news.
"It was awesome," said Waters. "NC State is a great school with a great program. They called yesterday and said they liked my film and with their quarterback situation they want to bring in a guy with some experience so they offered me. I was pretty excited about it.
"I've watched NC State for a while whenever they were on TV so I know a little about them. Knowing guys like Philip Rivers and Russell Wilson went there... it's cool to get an offer with their quarterback tradition."
According to Waters, Kansas State is close to offering, and he is also hearing from Auburn, Toledo, and Fresno State.
A full qualifier out of high school, Waters will be able to enroll at the college of his choice in January and have three years to play two seasons.
"The two schools that have offered are obviously at the top, but I'm considering all schools," said Waters. "If they are interested in me then I'm going to be interested in them. I'll do my homework and make the best decision for me.
"I'm looking for the best fit. I want to go to an offense that I fit, and I also want them to have a good situation at quarterback. I want to come in and compete right away. Plus, I want to have a good feeling about the coaching staff."