Since schools are now able to pay up to $20 million directly, the realistic solution would be to schedule a 2nd or even 3rd P4 every year. If OSU is paying $1.4 million, use 300k (or whatever) to cover travel expenses and invest the $1.1 million in NIL.
If you don't have money to retain your players, you can't compete in the MAC. Others on here complain about playing a 2nd paycheck game, but I don't see another workable solution.