Lea Michele is sticking around Fox. But her character on Scream Queens, as teased here, will be VERY different than her character on Glee.
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The single "Cannonball" will be included on Lea Michele's debut solo album. Listen to a snippet here.
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Glee Quotes

Artie: I thought I was over someone, but I still think I have feelings for them.
Brittany: The Clintons?

I had it all planned out. I was gonna make it big on Broadway and maybe make a Woody Allen movie. And then when we were ready, I would just, come back and he'd be teaching here and I'd walk through those doors and I would just say 'I'm home' and then we would live happily ever after.

Rachel