Devin Gardner could be the future at quarterback for the Michigan Wolverines, but how extensive that future is depends on his redshirt status, which is still up in the air. According to ESPN, the Wolverines have not yet submitted a claim on Gardner following back injuries that limited Gardner in 2010. As the piece notes, the Wolverines could have applied for the waiver at any point after Gardner's freshman season.
The process, as described, first involves the school submitting a waiver on behalf of the athlete to the conference, to show that there was an injury that effectively cost the player the majority of his season. Once the waiver is received, the Big Ten Medicine Subcommittee on Eligibility reviews the material and makes a determination on its merit.
Gardner will be back with the Wolverines in 2013, almost certainly as the starting quarterback. Whether or not the school will have him in 2014 depends on whether or not they submit a claim and get it approved, though all indications point to them submitting one.