Inside Maryland Sports was the first to break the news on Monday morning and the Baltimore Sun also reported that Stoglin wouldn't return to the Terps.
Maryland put out a news release on Monday morning stating that Stoglin and Mychal Parker, who had announced his intention to transfer earlier in the month, had both been suspended from the school for one year for violationg the student-athlete code of conduct.
The 6-foot-1 Stoglin then decided to enter his name in for the NBA Draft on Sunday.
"Being a University of Maryland student-athlete carries a tremendous honor and responsibility," Maryland athletic director Kevin Anderson said in a statement. "As much as we appreciate the effort these two young men gave to the program this season, they were unable to live up to that responsibility. We're disappointed, but hope they use this as a learning experience."
The Maryland sophomore guard averaged 21.6 points per game and led the ACC in scoring this past season, but is considered a second-rounder -- at best.