Sanctions against Penn State

Published: Jul 23 2012 10:58:30 AM EDT   Updated On: Sep 24 2013 01:55:32 PM EDT

The NCAA has imposed severe sanctions on Penn State in light of the child abuse scandal and alleged cover-up that has rocked the university and its football program.

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That $60 million fine will be paid in $12 million installments over five years, will be paid into an endowment funding child abuse prevention and support programs outside the university, according to a statement from the school given to CNN.

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