Lon Morris College, a private, two-year institution in Texas, has placed all but 11 employees on furloughs, KLTV  reported. Miles McCall, the president, has resigned. College officials said that they have called off the two summer sessions that had been planned. Consultants will work this summer on a plan to restore the college to financial health. Employees have also been told that the college stopped paying for health insurance, so they should expect termination of their insurance soon.