Penn State to pay $59.7 million to 26 victims of sexual abuse

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.