Carmody attended the University of Louisville from 2004 to 2007. During the 2004 season, he ranked second in the nation in scoring among kickers. He holds the NCAA, conference, and school records for consecutive points-after-touchdown (PATs) with 77. He also made 12-of-15 field goals during the season. He continued to break and tie records in 2005. In the 2006 season he won the Lou Groza Award, was First-team in the All-Big East game, was ranked fourth in the nation in scoring, and earned a Big East Special teams Player of the Week recognition. He continued to break school records during the 2006 and 2007 seasons.