Penn State said that 23 of the settlements had been signed fully, with three others agreed to in principle. The university said it now faced six remaining claims, some of which it said were without merit and others of which it said could be settled.
The university said the agreements would not be financed by student tuition, taxpayer money, or private donations, asserting that it believed its liability-insurance policies would cover the settlements and the defense of claims against Penn State. “Expenses not covered by insurance are expected to be funded from interest revenues related to loans made by the university to its self-supporting units,” the university said.
Rodney A. Erickson, Penn State’s president, said in a written statement that the university hopes the announcement is “another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State.”Return to Top