Redd is the second PSU player in two days to leave the school following heavy NCAA sanctions levied in the wake of the Jerry Sandusky child sex abuse scandal.
The running back -- who compiled 1,241 yards and seven touchdowns last season for Penn State -- follows red-shirt freshman safety Tim Buckley out the door.
Buckley transferred Monday to North Carolina State.
Under the NCAA sanctions, players leaving Penn State can play for their new schools immediately without any loss eligibility. Redd has two seasons of eligibility left.
"We welcome Silas Redd to the Trojan Family. He is an outstanding student and athlete," Haden said. "When the NCAA presented the option to transfer, Silas and his family put a lot of thought and research into making this decision."
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