After his junior season, McElroy declared early for the NFL draft. In spite of his spectacular junior year, injury concerns caused McElroy to drop in the draft. Although projected to be a first round pick, he instead holds the dubious distinction of being the lowest picked player to attend the NFL draft. McElroy was selected in second round in 1996 by the Arizona Cardinals at number thirty-two. He has become somewhat of a cautionary tale against football players leaving school early. Aggie head Coach R. C. Slocum and others speculated that if McElroy had returned in 1996, he would have benefited from playing with a more prolific passer in Branndon Stewart and probably would have faced less eight-man defensive fronts. These factors along with the additional experience might have resulted in McElroy's Heisman hopes coming to fruition and his entering the draft a more seasoned, more complete back. In later interviews, McElroy would caution college players in his own mold against declaring for the draft when he said, "I’d tell them to evaluate the situation and consider every single option. The money is enticing, but nothing’s for sure at this level. I’m a prime example of that."