Sanders, who averages 16.2 points per game, will miss all team activities for the next two weeks as a result of the suspension, according to a statement released by the team.
"Although I am disappointed to announce this suspension, I believe that it will serve as a valuable learning experience for Corey," Rutgers coach Eddie Jordan said in the release. "The team will continue to work hard in his absence and looks forward to his return."
Sanders, who also is Rutgers' leader in assists per game (4.1) and steals per game (1.7), was ranked 62nd in the 2015 class per RecruitingNation. He scored 23 points in Saturday's 79-69 loss to Ohio State -- the 12th consecutive loss for Rutgers.