The National Collegiate Athletic Association announced Tuesday at least 25 percent of the money will stay in Pennsylvania with the rest distributed by an independent, 10-person task force to other states, the Centre Daily Times in State College, Pa., reported Wednesday.
An NCAA statement said all $60 million will go to child abuse prevention programs or to assist victims.
The fines against the school came after Sandusky, a former long-time Penn State assistant football, was convicted of 45 counts of child sex abuse in June. After the investigative Freeh Report revealed coaches, including then-head coach Joe Paterno, concealed facts about their knowledge of Sandusky's activities, the NCAA vacated Penn State's 111 football victories from 1998 to 2011 and imposed other sanctions. Paterno was fired after Sandusky was charged and died Jan. 22 of this year.
Notable deaths of 2014 [PHOTOS]