The consequences will vary from instructor to instructor and from institution to institution. They range from a simple slap on the hand (don't do it again) to complete explusion from the institution (expelled from all of your courses). Because the bond of trust is broken, many instructors will simply expel you from the course you are taking. As an example: Within the BCIS1405 course at Houston Community College, we expelled 8 students (along with giving them the grade of "F") from Distance Educations sections during the Spring 2008 term for Academic Dishonesty.
Be ready for what ever the consequences your instructor will deliver if you are dishonest.