Grant, who is averaging 19.0 points and 6.2 assists this season, said in a letter that appeared on the website that he is no longer enrolled in school "due to an academic matter that [he] did not handle properly."
He said that he plans to return to Notre Dame after the 2014 spring term. He will have to go through the process of being readmitted to school.
Grant, a redshirt junior, is the son of former NBA player Harvey Grant. Jerian Grant had been on track to graduate in May with a degree in sociology.
Grant did not provide details of his academic transgression, but it seems similar to the situation that caused Notre Dame quarterback Everett Golson to be suspended from school last spring for academic reasons. Golson was readmitted to Notre Dame on Dec. 13.