Every member of Lon Morris College's faculty and staff was fired this morning via email and the school's president has resigned in the midst of the ongoing financial crisis that has riddled the Jacksonville-based junior college.

In addition to all employees losing their jobs, anyone currently living on campus has 10 days to move out. And the Tyler Morning Telegraph is reporting Lon Morris president Miles McCall has submitted his resignation, effective Thursday (May 24).

Just two weeks ago, Lon Morris -- the state's oldest private institution -- hired Bridgepoint Consulting to help with restructuring the college's major financial issues. Many employees had gone three months without pay, and in the email sent from Bridgepoint's Chief Restructuring Officer, Dawn Ragan, to Lon Morris employees, she informs them of the decision.

One excerpt from the email:

Given insufficient cash flow, the college cannot continue to employ personnel and further cannot allow employees to continue to work even on a "volunteer" or unpaid basis. Your loyalty to the College, and especially the Mission, is very much appreciated, but unfortunately due to the current circumstances all employment by the College is hereby terminated on the earlier to occur of either immediately as of 5.22.12 or the last day worked prior to 5.22.12 ... "

Only a "minimal core group" of employees will be retained. But employees will lose all accrued vacation time and worse, health insurance benefits due to non-payment.

The email reads the junior college is still planning to have school in the fall.

You can read the entire email, which was obtained by KETK in Tyler, here: