The Nittany Lions advanced to the EIVA championship behind strong outings from John Kerr, Michael Valenzi, and Michal Kowal.
Penn State will now continue on to the Big Ten Tournament.
Toney was previously indefinite suspended after placing bets on NFL games.
Rice averaged 4.2 points during his freshman year with the Cornhuskers.
"Some people have a lot of success from this and they make a lot of money, but at the end of the day, I just like making videos and seeing how people react to them. That's my joy."
The after-hours event will take place from 4 to 8 p.m.