Steele signed a FA form for Oregon and supposedly already made course selections, toured the dorm, etc. He has a week or two before the summer session starts so he isn't technically enrolled.
I read a few articles on this earlier today. Parents want him at USC. He wanted Oregon. The story goes USC told him to wait to early June to see if they had a scholarship - he didn't wait and pulled the trigger for Oregon. USC does have space and McCoy is presumed to be heading there too. He already had a scholarship at USC. The belief is now it is more appealing for Steele since the two were committed there together last year and Steele's parents want him there.
USC believes they will be able to get Steele eligible to play this year; UF probably won't fight the waiver. McCoy is a whole other story.