Michigan State University said Wednesday it has reached a global settlement in principle totaling $500 million with 332 victims of sexual abuse by MSU sports doctor Larry Nassar.

The terms of the settlement include $425 million to be paid to current claimants with $75 million set aside in a trust fund for any future claimants. At about $1.3 million per claimant, the settlement falls well short of the $3 million per person average that Penn State University paid to sexual abuse victims of a former coach, Jerry Sandusky.