The Beaufort Gazette reports that the county's Board of Education unanimously approved the settlement Tuesday.
Philip Underwood-Sheppard was sentenced to 25 years in prison in 2003, for molesting at least nine students. Some of the assaults took place in his office.
In August, the district finalized a $4.6 million settlement for six victims. A seventh case was settled and paid by district liability insurers.
The eighth victim had rejected a $300,000 settlement offer from the district in February before agreeing to the $563,000 settlement