Penn State Settles With Victims Of Abuse

Penn  State has agreed to pay $59.7 million to 26 victims of sexual abuse of their former assistant coach Jerry Sandusky.  Sandusky was convicted in July 2012 of 45 counts of abuse which stretched over a period of 15 years.

23 of the victims have already signed the settlement and three have agreements in principle and will finalize the deal in the next few weeks.  There are six more claims however the school claims some of them don't have merit.  The other ones are in the process of reaching a settlement with the school.  The settlements will be funded from insurance and through revenue from the interest of the loans made by the school.

Sandusky is serving a 30-60 year sentence.