The National Collegiate Athletic Association has ordered a three-game suspension for each of the five college basketball players who were paid for their performances in the movie ''Hoosiers.''

Four of the five players were also asked to return the money they received for their work in the movie, and the five-member eligibility committee said it would review the fifth student's case in mid-December.

The students are Steve Hollar and Griff Mills of DePauw University; Jim Rayl Jr. of Indiana-Purdue in Fort Wayne, Ind.; Mike Ricks of Wabash College and Greg Eckstein of Rollins (Fla.) College.

They were declared ineligible by their schools because ''if you take pay for the sport in which you are participating, you are ineligible in that sport,'' said Steve Horton, an N.C.A.A. official in Mission, Kan. ''You can't use your athletic skill in a sport for pay.''