Penn State University will make its first payment this month on the $60 million fine issued by the National Collegiate Athletic Association over the sex abuse scandal involving former assistant football coach Jerry Sandusky.
 
The university will make the first of 5 annual payments on December 20.
 
The NCAA says the money will be held in a money market account while a task force works out guidelines for the distribution of grants from an endowment established to combat child sexual abuse.
 
The NCAA imposed the fine and other sanctions over Penn State's handling of the allegations against Sandusky, who was convicted of abusing 10 boys, some on campus.

Sandusky is currently serving a 30 to 60 year prison sentence.