Cerrato is still eligible to sign his entry-level deal with the Hurricanes following the PTO.
The move comes after a week of three ranked wins.
Fink will likely play in the AHL for the rest of the season.
Penn State only lost by one goal to the No. 3-ranked Terrapins.
The Nittany Lions hold the biggest disparity in earned runs and runs allowed in the Big Ten.
It wasn't the ending Penn State had hoped for, but the season still showed significant growth for a program learning how to handle success.