I wonder if the coaching staff will look to use that scholarship on a 2018 freshman, a 2018 transfer (sit-out a year), a 2018 grad transfer, or hold the scholarship for 2019? According to Verbal Commits, Rice still has a few 2018 offers out. But getting another true freshman would put that class at 5 players, which really unbalances the scholarship situation for the next few years. Currently, Rice is scheduled to have one 2019 scholarship available (Cashaw graduating), then four 2020 scholarships (Adams, Meyer, Harrison, Martin Jr.).
My personal take would be to try and get a grad transfer who can contribute. Then they get someone for 2018 and have the scholarship available for a 2019 freshman as well. But the last few grad transfers to Rice haven't really been difference makers (though Lapray was held back by injuries).
edit: I just glanced at the outstanding 2018 offers on verbal commits. One interesting name is Drew Peterson, a 6'7" SF from Illinois. He's a top-300 player nationally according to
247sport's composite ratings (#7 in Illinois). In
this article, he says that Rice has been out to see one of his games every week for the prior month (this seems confirmed by some twitter comments from other observers)! He received a lot of interest from Wisconsin, but apparently no offer yet. Also,
Illinois Prep Hoops (as well as a few other articles I read) has him in the running for Illinois' Mr. Basketball award.