The ruling means Dyer's college career is over, ending a somewhat turbulent five years.
Dyer burst onto the national scene as a freshman at Auburn in 2010, helping the Tigers win the national championship. He was named the offensive player of the game in the BCS national championship game against Oregon after his 37-yard run set up Auburn's winning field goal.
After being suspended near the end of the 2011 season, Dyer transferred to Arkansas State but was dismissed from the team in July 2012 after a run-in with police. He then transferred to Arkansas Baptist State, not playing football at the school, before landing at Louisville in 2013.
Dyer didn't receive extensive playing time last season but was Louisville's second-leading rusher this year, carrying the ball 110 times for 481 yards and five touchdowns while splitting time with Brandon Radcliff.
Louisville (9-3) meets Georgia (9-3) in the Belk Bowl next Tuesday.
- Ben Estes