Can do so, so long as each swimmer is currently eligible to compete for the school in collegiate competition. NCAA season ends. School wishes to compete as school club to end of term but coach brings in outside athletes to swim for the team. Team is then no longer a school club but becomes an independent USS club, and once having competed in a USS meet, each member becomes immediately subject to the 120-day rule. NCAA season ends.
School wishes to compete as school club to the end of the school term.
Coach decides to use a student swimmer who is academically ineligible for collegiate competition. The team immediately becomes an independent USS club on its first USS competition and all team members become immediately subject to the 120-day rule. NCAA season ends. Coach decides to swim as school club to end of school term. Can do so immediately.