Dismissed from the team over the summer for a violation of team rules, Falo posted on Instagram on Sunday that he will return in January.
"42 days and I'm back where I belong," he wrote. "On the gridiron making plays and in the class chasing that degree."
On Monday morning, CU said it has not been confirmed that Falo will return.
However, head coach Mike MacIntyre does have a history of giving second chances to players who show contrition and work their way back into good standing. Most notably, MacIntyre brought defensive lineman Samson Kafovalu back to the team in 2015, defensive lineman Josh Tupou in 2016 and safety Evan Worthington this past season.
Part of CU's 2015 recruiting class, Falo, from Inderkum High School in Sacramento, played in eight games as a true freshman in 2015 and in 11 games in 2016, all as a backup. He played both inside and outside linebacker, recording 29 tackles.
Falo was suspended for the first three games of the 2016 season after he and running back Donald "Dino" Gordon were both arrested and accused of stealing items from a dorm room in April of 2016. Both players took plea deals.
This past season, Falo was expected to be one of CU's top edge linebackers. He recorded 12 tackles and 1.5 sacks as a backup in 2016 and was atop the depth chart at outside linebacker this past spring, while senior Derek McCartney recovered from a knee injury.
In addition to being dismissed from the team, Falo was not in school this semester.
"These past 6 months have shaped me to become the man I am today," Falo wrote on Instagram. "I thank God for all that he has done and I will continue to put him first in everything I do."
If Falo does return, he would immediately boost the Buffs at outside linebacker, with McCartney graduating.
Contact staff writer Brian Howell at firstname.lastname@example.org or twitter.com/BrianHowell33.