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Sanctions against Penn State

Published On: Jul 23 2012 09:58:30 AM CDT   Updated On: Jul 23 2012 10:22:00 AM CDT
School fined $60m, banned from bowl games for 4 years

The NCAA imposed severe sanctions on Penn State Monday morning 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, which according to a statement from the school given to CNN 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.

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