Student-Atlhetes  who are affected by the cancellation of spring sports will not lose their year of eligibility.

That's a report coming from various sources via the NCAA.

From collegead.com

According to Jeff Goodman, the NCAA’s Council Coordination Committee has agreed to grant an additional year of eligibility to student-athletes who participate in spring sports such as baseball, golf, lacrosse, softball, tennis, and outdoor track-and field. A decision on winter sports, like basketball, gymnastics, swimming and diving, rifle, and wrestling, could also be made.

A committee is being formed to study how to implement the policy as it pertains to scholarships.