LAWRENCEVILLE, Va. (AP) — The president of St. Paul's College says the school is losing its accreditation.

Eddie Moore Jr. says that he will appeal the decision by the Southern Association of Colleges and Schools Commission on Colleges.

Moore said he received the news in a phone call from a staff member of the accrediting agency. He was told details of the decision will be spelled out in a letter to the college in July.

Last month, Moore said the historically black private college in Lawrenceville was about $300,000 short of the $5 million it hoped to raise to prove its financial stability to the accrediting agency. He said in a statement that coming so close to reaching the goal was "a monumental achievement," and he was disappointed by group's action.