The NCAA has spoken and Penn State has finally decided to listen.

The university, as expected, was hammered with penalties that could have serious repercussions in the short term, but should help the university in the long run.

NCAA president Mark Emmert opened Monday’s announcement by fining the university $60 million, a mind-blowing total, but not so when you consider that’s about one year’s revenue accumulated by the football program.

The school also lost about 10 scholarships per year for four years and was placed on probation for five years — in other words, don’t screw up again.

Perhaps the biggest blow to the university was being stripped of 111 victories accumulated from 1998-2011.

That knocked former head coach Joe Paterno, who valued being the NCAA’s all-time victories leader, from 409 down to 298, which now places him eighth overall.

The NCAA basically blotted out the Nittany Lions’ program the past 14 years as if it didn’t exist.

Emmert wanted to make it clear that education of athletes should be first and foremost, and that’s exactly what this will do. While university presidents are taking their athletic programs and bolting from one conference to another, the NCAA has put teams on notice.

You will be held accountable for your actions, or in this case, inaction.

Teams can, and should, learn from this. Obviously, the sexual abuse case is unparalleled — not exactly trading uniforms and player gifts for tattoos like at Ohio State — and will be viewed as an extreme case. Most things, hopefully, will pale in comparison.

The NCAA also helped Penn State by earmarking the $60 million in fines for an endowment to help children affected by sexual abuse.

That puts a positive spin on the fines and helps begin the healing process with Penn State to the community at large.

By not handing Penn State the “death penalty,” which would shut down the program for at least one year, the school is still allowed to compete. Many were concerned that would affect the players, who in all fairness, had nothing to do with this debacle.

That also does not hurt the local communities, who benefit from the football program with 100,000 fans in the stadium for each home game.

Emmert also allowed the Nittany Lion players to transfer to any school, even Division I, and play immediately. No sitting out a year. It’s up to Penn State to try and keep its players — as well as recruits — to stay with the program and right the ship.

Not an easy sell, especially without bowl games and a shot at a national championship playoff in 2014, but Penn State needed to take its medicine and try to make things right.

Monday’s sanctions are a start. It’s what Penn State does from here on in that will determine if it’s paying attention.