A message left for Corp by ESPN.com was not immediately returned. A USC spokesman couldn't confirm or deny the report.
The report said Corp is expected to enroll at Richmond on Monday. It also said that USC granted Corp a release "earlier this week," which runs counter to what Corp's father, Chris, told reporters on Tuesday. The elder Corp said his son had not asked for a release.
After beginning preseason practices as the starting quarterback, Corp fell to No. 3 on the depth chart during the season behind Matt Barkley and Mitch Mustain. Corp started one game in 2009, a 16-13 loss at Washington.
Because Richmond is an FCS school, Corp would be eligible to play next fall.