Brendan Maloy
Monday October 28th, 2013

26 of Jerry Sandusky's victims will receive $59.7 million for Penn State. Penn State has agreed to $59.7 million in settlements with victims of Jerry Sandusky. (Justin K. Aller/ Getty Images)

Penn State University has agreed to pay $59.7 million to 26 men who were sexually abused by Jerry Sandusky, according to the Associated Press.

The negotiations with the victims has been going on for about a year, and the school says it has come to terms with 23 of the men, and 3 more have agreed in principle. There are still 6 other claimants with which the school has yet to settle, but they have said they hope to reach settlements in all claims with merit. Sandusky is currently serving 30 to 60 years in prison after being convicted of 45 charges stemming from his sexual abuse of children.

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