1995 Hyundai Elantra we could see that the belt was not moving

1995 Hyundai Elantra mileage: 62,000. My brothers '95 Elantra quit running, when we pulled off the upper timing belt cover, we could see the timing belt, when he turned the car over we could see that the belt was not moving, the belt was not loose and did not appear to be broken (at least not from the view that we had from the upper timing belt cover). Question: does this sound as though the timing belt has broken, and if so I have read, that if these Hyundai motors do break a timing belt, that the piston will hit the valves causing severe engine damage. Do you think that may be what we're looking at, and if so can you tell me approximately how much we are looking at to do the necessary repairs?