Penn State says Jerry Sandusky sex abuse fallout has cost school $17 million

(CBS/AP) HARRISBURG, Pa. - Penn State says it has spent nearly $17 million so far on attorneys, consultants and public relations firms hired to help deal with the Jerry Sandusky child sex abuse scandal.

PICTURES: Jerry Sandusky convicted of child sex abuse

The school says the costs are being covered by insurance policies and interest payments on loans it makes.

According to the Philadelphia Inquirer, $10 million of that total was spent on the cost of the internal investigation led by former FBI Director Louis Freeh.

Last week, former Penn State faculty leaders blasted the NCAA and Freeh over their handling of the scandal, saying Freeh's report - prepared for the university - and the NCAA's $60 million in fines, unfairly punish the entire university community.

"On a foundation of scant evidence, the report adds layers of conjecture and supposition to create a portrait of fault, complicity, and malfeasance that could well be at odds with the truth," said the statement, signed by 29 past chairs of the faculty senate.

Sandusky is facing a possible life prison term for his child sex abuse convictions.

Complete coverage of the Jerry Sandusky case on Crimesider