Sanctions against Penn State

POSTED: 10:58 AM Jul 23 2012   UPDATED: 1:55 PM Sep 24 2013

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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