Jul 19, 2014 02:50 AM EDT By Staff Reporter, UniversityHerald Reporter

The University of Connecticut has reached a settlement with five sexual assault victims in a lawsuit that accused the school of ignoring their complaints. The five students will overall receive $1.28 million.

Out of the total settlement fee, $900,000 will go to Silvana Moccia - a former hockey player at the university. Moccia, one of the plaintiffs, was kicked out of the team after she had filed a complaint about sexual harassment with her coach.

The other four plaintiffs will receive payments ranging from $25,000 to $125,000.

Despite settling the lawsuit with the victims, the University has not admitted to any wrongdoing and has in fact, claimed that it responds to reports of sexual assault and harassment instantly.

The school decided to reach an agreement because "no good would have come from dragging this out for years as it consumed the time, attention and resources - both financial and emotional - of everyone involved," Lawrence D. McHugh, the chairman of the university's board of trustees, said in a statement.

Gloria Allred, the plaintiffs' counsel, said that the settlement should encourage and inspire victims of sexual violence to report cases.

"Title IX is there for their protection, and other universities should follow the law and UConn's example," Allred said, NY Times reports

The plaintiffs sued the University for monetary damages and modifications in the school's action of sexual violence and harassment allegations.

Four of the plaintiffs, along with three other women, also filed a complaint with the Office of Civil Rights at the United States Department of Education. Although the plaintiffs have withdrawn their complaint, that investigation will continue.

See Now: Covert Team Inside Newsweek Revealed as Key Players in False Human Trafficking Lawsuit