Wide receiver DeVier Posey, running back Daniel Herron and offensive lineman Marcus Hall will miss the Buckeyes' game against 15th-ranked Nebraska Saturday -- and may miss more action as well.
"The dollar amounts for each [player] determines the penalty that will ultimately be leveled by the NCAA," Smith said. "However, we do know that for this game they will have to sit."
Posey and Herron were among five OSU players suspended for the first five games this season following a memorabilia-selling scandal that led to the resignation of Buckeyes Coach Jim Tressel and prompted quarterback Terrelle Pryor to join the NFL rather than serve his suspension.
Offensive lineman Mike Adams and defensive end Solomon Thomas, also caught up in the scandal, are expected back on the field Saturday.
Two other players, linebacker Etienne Sabino and defensive end Melvin Fellows, also received money for work they didn't do, but Fellows is out on a medical hardship and Sabino is available for the Nebraska game because he has already been reinstated by the NCAA.
Buckeyes running back Jordan Hall and defensive backs Corey Brown and Travis Howard were suspended for the first two games this season for accepting impermissible benefits at a charity event.
Smith told reporters all the infractions were "individual decisions by individual people."
"At the end of the day, individual decisions were made that went off the reservation," Smith said. "We have to find a way to curtail those."