From Longman Dictionary of Contemporary Englishsettle for something phrasal verbACCEPTto accept something even though it is not the best, or not what you really want They want $2,500 for it, but they might settle for $2,000.Grammar Settle for is never passive. → settle→ See Verb table
Examples from the Corpus
settle for • We settled for $ 14. 8 million.• Leading at that stage by two strokes, the conservative thing to do was lay up and settle for a five.• Have fun now, because you may have to settle for a truncated product next year.• In the end I settled for just lying still on my side day-dreaming, but making sure I didn't disturb him.• At the Manor Ground the crowd would have settled for just one goal; the 0-0 scoreline does the game justice.• As with those who sell their winnings, players who take the option must settle for less than the advertised prize.• They weren't going to settle for the one goal.• She enjoyed so many bourgeois pleasures, and yet she loathed the thought of settling for them. 