Many victims testified that Nassar, 54, sexually abused them under the guise of medical treatment while on his examination table, sometimes hiding it from view of parents waiting nearby.
Those terms say that $425 million will be paid to the current victims, and $75 million will be set aside for any future victims. Nassar was sentenced to 60 years in federal prison for child pornography charges and also faces two additional 40 year sentences in MI prisons for the sexual assault crimes.
Jennifer Collins is the aunt of an MSU student and agrees that it's important for the university to do more than a settlement.
It applies only to plaintiffs who have sued the university, and not those who have filed claims against the U.S. Olympic Committee, USA Gymnastics, gymnastics coaches Bela and Martha Karolyi or anyone else, the attorneys said.
In partnership with the gymnastics community, USA Gymnastics remains dedicated to creating a culture of empowerment for the young men and women who are pursuing their gymnastics dreams today while honoring those who have gone before them.
Along with Michigan State, Nassar also worked at USA Gymnastics for nearly 30 years.
In regards to Nassar's victims, Jamie White - a representative of dozens of the women that confirmed the settlement - said: "I don't think they can ever be made whole, but this is a step in the right direction", per The Free Press.
Nassar will likely spend the rest of his life behind bars.
Michigan State was accused of ignoring or dismissing complaints about Nassar, some as far back as the 1990s.
John Engler, who took over as interim president of MSU, was given a mandate to find settlements to the hundreds of lawsuits the school was facing.
The shadows of Michigan State University students appear on "the rock" in the university campus which was painted "Thank You" and includes the names of the women who gave victim impact statements during the Larry Nassar sexual assault sentencing hearing. "However, I am deeply disappointed at the missed opportunity for meaningful reform and change at the University". Penn State's agreement was reached with 33 victims, whereas MSU had almost 10 times more plaintiffs.
The sexual abuse settlement appears to be one of the largest of its kind, reflecting the sheer number of victims, including well-known athletes such as 2012 Olympic gold medalist McKayla Maroney.
"We appreciate the hard work both sides put into the mediation, and the efforts of the mediator, which achieved a result that is responsible and equitable", he said in a statement.
A victim credited with exposing serial sexual abuser Larry Nassar says she is grateful to have reached a legal settlement with Michigan State University that reflects the "incredible damage" that took place on campus.
Years after physical abuse, the emotional scars are still there, and the half-billion dollar settlement aims to help the healing.