The NCAA released its sanctions this afternoon. The penalties essentially consist of affirmation of the self-imposed penalties the Gamecocks had suggested.
The whole release is here.
South Carolina will not face a bowl ban or have to forfeit any wins during the time of violations. The school will be on three years probation, which will end on April 26, 2015. The NCAA upheld its reduction of six football scholarships, the $18,500 monetary fine, and other infractions.
It looks like Eric Hyman and the rest of the administration took a bad situation and made the absolute best of the situation. The NCAA noted:
"When determining the penalties, the committee noted the university’s cooperation in the investigation, which went beyond standard expectations..."
In short, they handled it right. Now we can move on.