Degrassi: The Next Generation fans just got news that's more devastating than the most heartwrenching story lines combined: The show has been canceled.

On Thursday, TeenNick announced that the show's 14th season will be its last. What's more, all of the show's remaining episodes will air over just two weeks, with a new episode premiering each night (Monday through Friday) beginning with two back-to-back episodes on July 20. Season 14 will follow members of the senior class as they prepare for prom and graduation under a strict new principal.

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The one-hour series finale will air on Friday, July 31 at 9/8c, preceded by an hourlong look-back special, It Goes There: Degrassi's Most Talked About Moments.

"For an incredible 14 seasons, Degrassi has been a groundbreaking show tackling so many important topics that real teens face in their everyday lives," TeenNick Senior Vice President and General Manager Keith Dawkins said in a statement. "We hope to say goodbye in a way that is both fitting to the show and Degrassi's passionate fan base."

Throughout July, Degrassi fans can visit TeenNick.com to sign an official "virtual yearbook" for the show.

Obviously there is only one appropriate reaction to this news.