Schembechler’s son said that the coach had ignored his account of abuse in 1969.

Anderson retired in 2003. In recent years, though, his former patients have described decades of lingering trauma, from a reluctance to seek intrusive medical examinations to persistent feelings of shame.

The accusations against Anderson — and Michigan’s knowledge of, and responsibility for, his misconduct — led to a wave of litigation against the university and, after months of private talks, Wednesday’s announcement.

In the last decade, universities have repeatedly agreed to pay enormous sums to settle abuse cases. In 2013, Penn State said it would pay nearly $60 million to more than two dozen victims of Jerry Sandusky, a longtime assistant football coach. Michigan State University reached a $500 million settlement in 2018 to compensate victims of Lawrence G. Nassar, a doctor. Ohio State University said in 2020 it would pay $41 million to some of the former athletes and other students who claimed they were assaulted by Richard H. Strauss, a team doctor for nearly 20 years.

And the University of Southern California agreed to pay more than $1.1 billion in connection with misconduct by a gynecologist, Dr. George Tyndall.

Michigan’s disclosure of the settlement came less than a week after the university’s regents ousted the president, Mark S. Schlissel, for a relationship with a subordinate that they said occurred “in a manner inconsistent with the dignity and reputation of the university.”

The regents are among the people who must still approve the settlement, the university said, which covers about 1,050 claimants and was reached during mediation talks.

In a statement on Wednesday, Jordan Acker, the chairman of the Board of Regents, said Michigan officials “hope this settlement will begin the healing process for survivors.”

Michigan said that $460 million of the settlement would be available to the people who have already brought claims and that their lawyers, not the university’s, would take charge of distributing the money. Another $30 million will be reserved for people who might bring claims against Anderson by July 31, 2023.