Wednesday afternoon, the Bakersfield, Calif., native texted FightOnState.com's Greg Pickel to say that he has been cleared to transfer.
As of this writing, Penn State had yet to officially announce that Ferguson had been released from this scholarship. But a program source confirmed the quarterback had received the release.
But Ferguson was talking like it was a done deal. And he expressed thanks for the way head coach Bill O'Brien and the PSU staff treated him during his short stay in Happy Valley.
I'm just thankful for all the football that I learned over this year, Ferguson told Pickel via text. I'm just looking to play with the three years I have left.
He did not say where he might land next.
Ferguson spent the 2012 season at the junior college level -- at College of the Sequoias in Vislalia, Calif., to be exact. He enrolled at Penn State last January.
If he transfers to another FBS team, he must sit out the 2014 season under NCAA rules and then will have two seasons of eligibility remaining starting in 2015.
Hackenberg won the starting job over Ferguson in the preseason and went on to be named Big Ten Freshman of the Year. Ferguson saw limited snaps, competing 10 of 15 passes for 155 yards and a score.
Hackenberg and Ferguson were the only two scholarship quarterbacks on the PSU roster last season. But the Lions have a commitment from Class of 2014 three-star prospect Michael O'Connor of IMG Academy in Bradenton, Fla.