It happens in the NCAA already. The Caps made pretty clear that they offered Ryan Leonard an ELC to join their playoff roster last season, and he just straight up told them that he wanted to go back to school. Now that is an American kid who was already at his dream school and felt he had unfinished business, so it's not clear that a Canadian like Misa who isn't already in college would make the same decision, but it's not unprecedented at all. I imagine for someone like Misa it would be more about the guarantee of a roster spot versus the chance of being sent down the the AHL versus just turning down a roster spot because he wants to play in college.