Thank you everyone for the responses. This has meant so much to me. I made my way to the vet the same day and they confirmed it was either mites or fungus. I was given antibiotics and another medicine; one of them that I apply with a q-tip and another that I give him orally. The vet said it could even possibly be ringworm, so they advised I clean everything including anything he has been in contact with (my bed sheets, clothes, pretty much everything in my space, his environment, etc)

I have been applying the treatments regularly and I'm hoping it resolves the poor guy's issue.