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PSU To Make First Payment of $60M Fine On December 20th

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(Credit: Patrick Smith/Getty Images)

(Credit: Patrick Smith/Getty Images)

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HARRISBURG, Pa. (AP) – Penn State University says it will make its first payment later this month on the $60 million fine issued by the National Collegiate Athletic Association over the sex abuse scandal involving former assistant football coach Jerry Sandusky.

The Patriot-News of Harrisburg reports the university said Friday it will make the first of five annual payments Dec. 20.

The NCAA says the money will be held in a money market account while a task force works out guidelines for distribution of grants from an endowment established to combat child sex abuse.

The NCAA imposed the fine and other sanctions over Penn State’s handling of the allegations against Sandusky, who was convicted this summer of abusing 10 boys, some on campus.

Sandusky is serving a 30- to 60-year prison sentence.

(© Copyright 2012 the associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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