The National Collegiate Athletic Association announced stiff penalties against Penn State University's football program on Monday.  The University was fined $60 million dollars and banned the football team from any postseason games for four years.  The NCAA also took away all the football wins from 1998 to 2011.  Penn State must also reduce ten initial and 20 scholarships each year for a four year period. 

The punishments are part of the fallout from the child sex abuse scandal involving former assistant football coach Jerry Sandusky.  He was convicted last month of sexually abusing at least ten boys over a 15 year period.  The penalties also follow an independent investigation that accused several top PSU officials, including Paterno, of helping to cover the abuse.