MSU Board of Trustees votes to approve $500M settlement for Nassar survivors

Posted at 10:24 AM, Jun 22, 2018
and last updated 2018-06-22 12:41:39-04

The Michigan State Board of Trustees voted to approve a $500 million settlement between the school and survivors of Larry Nassar.

The settlement will be paid through issuing bonds, and won't be paid from tuition. 

According to attorneys representing the 332 survivors, $425 million will be paid out to current claimants and $75 million will be set aside in a trust fund to protect any future claimants alleging sexual abuse by Nassar.

On top of that, there will be no confidentiality agreement or non-disclosure agreements attached to the settlement. It only applies to Michigan State University and MSU individuals who were sued.

As the settlement was approved, sister survivors stood and demanded that Interim President John Engler be fired from the university.