source tells CBS Sports that a fine of as much as $60 million could be levied against Penn State:

The NCAA will fine Penn State at least $30 million and perhaps as much as $60 million for its involvement in the Jerry Sandusky scandal, industry sources told’s Brett McMurphy.

The record fine will go toward an endowment for children’s causes, sources said.

It will be a significant chunk of change for the athletic program:

Some see such a fine as a slap on the wrist.

However, the official announcement of sanctions is not until Monday morning. The fine could be on top of other sanctions.