Ohio State quarterback Cardale Jones says he will make a "life changing decision" on Thursday.
He tweeted that he would have an announcement at 4 p.m. ET.
Life changing decision at 4pm— Cardale Jones (@CJ12_) January 15, 2015
A source close to the quarterback told Schad that the past 48 hours have been "very stressful" for Jones.
Noting that a high-third-round NFL draft pick could command close to $1 million in guaranteed salary, that person said "that kind of money isn't as easy as you get in your lifetime as you might think."
Another source close to Jones said the quarterback planned to ask Urban Meyer on Wednesday whether he would be the starter next season and likely would enter the draft if he wasn't told he would be.
Technically, Jones could declare and still withdraw within 72 hours of Thursday's midnight ET deadline.
Jones, Ohio State's third-string quarterback, was promoted to starter after season-ending injuries to Braxton Miller and backup J.T. Barrett. The 250-pound third-year sophomore's résumé includes three starts -- a Big Ten title, a Sugar Bowl title and a 42-20 win over No. 2 Oregon in the College Football Playoff National Championship presented by AT&T.
Jones threw for 242 yards and a touchdown and ran for another score against the Ducks.
On Tuesday, Jones said he didn't think he was ready for the NFL yet.
ESPN.com's Heather Dinich contributed to this report.