Penn State has announced that it is paying $59.7 million to 26 young men to settle claims of child sexual abuse at the hands of former assistant football coach Jerry Sandusky.
The university said it had concluded negotiations that have lasted about a year.
The school said 23 deals are fully signed and three are agreements in principle. The school faces six other claims, and the university says it believes some do not have merit while others may produce settlements.
"We hope this is another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State," University President Rodney Erickson said in a statement released Monday. "We cannot undo what has been done, but we can and must do everything possible to learn from this and ensure it never happens again at Penn State."
Penn State said the day Sandusky was convicted in June 2012 of 45 criminal counts that it was determined to compensate his victims.
The university says the settlements will be funded in part by various liability insurance policies. Officials said they will not be paid for by student tuition, taxpayer funds or donations.
Penn State has spent more than $50 million on other costs related to the Sandusky scandal, including lawyers' fees, public relations expenses, and adoption of new policies and procedures related to children and sexual abuse complaints.http://www.foxnews.com/us/2013/10/28/penn-state-to-pay-60-million-to-26-men-over-sandusky-abuse-claims/?intcmp=latestnews
Wow! A lot of money is being spent because of that pedophile, Sandusky, and the cover-up of someone more suited to be hanged.