As you've probably seen, the NCAA did not accept Ohio St.'s self-imposed penalties and, instead, gave the Buckeyes a one-year bowl ban and increased scholarship penalties. Will that happen to USC?
IMO, it won't. You're going to hear some people say that USC may get worse penalties than OSU because the dollar-value of USC's indiscretions are greater than those of OSU. However, in addition to being a somewhat faulty consideration because USC's players paid back much of the money owed, this is probably not the factor to focus on here. It's widely thought that what got OSU it's penalties is the fact that, as the above-referenced ESPN article and other sources suggest, it was the intentional coverup staged by the school's head coach. Despite its many inconsistencies, the NCAA has been fairly on point about one thing: schools that commit infractions and knowingly cover them up without sitting ineligible players are going to get hammered. That's exactly what happened with OSU.
South Carolina, on the other hand, has been extremely cooperative with NCAA investigators. Unless there's a paper trail we don't know about, USC has done the right thing ever since it learned about the potential infractions, sitting players like Weslye Saunders, Chris Culliver, and Damiere Byrd. This isn't to say that we're absolutely out of the woods. We do have the dreaded repeat-offender tag, which is oftentimes also motivation for increased sanctions. That said, I really think South Carolina fans should feel relatively safe here.