I have a 1989 2.3L Mustang which I broke yesterday.

I was driving on the freeway, attempted to go into another lane, not realizing that i hadn't shifted into 5th gear and was already going 60mph. I thought I caught it in time when I shifted into 5th. But as soon as I did, it just completely turned off on me. No big booms, big noises, anything. My mechanic hasn't taken a look at it, yet. But he's pretty sure that its the timing belt that needs replacement. The car won't turn on, it just cranks. But nothing else. Any advice as to what ELSE could be wrong?
Really need help...
Thanks.
