In theory, it would be perfectly possible for him to transfer and not miss a year. It would require him to stay at Eastern for the 2015 season, but he could exploit the same loophole Vernon Adams exploited and leave for a different school.
I think a lot of people thought of the Vernon situation as some sort of weird one-off, but it is a dangerous new precedent. I can't think of a single other instance where a school lost a player from their roster with a year of eligibility left with no transfer period. EVERY school without legitimate FBS title aspirations should monitor this situation very closely less everyone outside the top 25 become a 4-year JC.
I've been pretty vocal about saying this situation is a nightmare for Eastern and teams like Eastern... not because of one kid, but because the NCAA has sanctioned an exodus of team's best players so long as they have a 5th year available. Eastern (and other non-top tier FBS teams and FCS teams) can no longer redshirt for fear that they essentially give away their best players for their senior season.