BRISTOL, Va. -

We have new facts on the financial troubles of Virginia Intermont College -- we've learned the college cut 95 employees Friday.

According to Ronda Gentry, the college's Vice President for Institutional Advancement, 20 workers will still be employed for now.

The layoffs come just days after president Clorisa Phillips quit.

Gentry also tells us that as of Friday, all employees have been paid, including back pay, and all student loan refunds have been issued.

The college will lose its accreditation on July 1, 2014.