by Antonia Anderson

Created on: November 05, 2009   Last Updated: November 26, 2009

During rocky financial times, colleges and universities typically see an increase in applications. The current recession is no exception. With over 15 million Americans unemployed as of September 2009-double the 2007 number-thousands of adults are flocking to school. Their hope? To enhance their skillsets, qualify for more stringent job requirements, or transition into a better-paying career.

Unfortunately, would-be college students often run into a stumbling block: money. College tuition is not cheap, and the cost per credit has kept pace with rising prices all over the country. Whether you're a fresh college graduate, an experienced worker, or a stay-home parent, the cost of tuition may have kept you from pursuing higher education...until now.

Enter President Barack Obama's American Recovery and Reinvestment Act. Commonly dubbed the stimulus bill, it came into effect in 2009 to the great relief of needy students and out-of-work hopefuls. If you have been putting off applying to the school of your choice, now is the perfect time. Take a look at how the stimulus bill affects your education:

*Larger Federal Grants and Loans*

The federal Pell Grants program helps undergraduate students afford tuition, housing and living expenses. Previously, the maximum allowed amount was just over $4,700; with the stimulus bill setting aside $15.6 billion for Pell Grants, the maximum allowed amount will be $5,350 with another scheduled increase to $5,550 for 2010-11. In addition, 800,000 more students nationwide will qualify to receive Pell Grants. Also, federal Perkins Loan funding was boosted to $6 billion a year.

To find out if you qualify for a Pell Grant or Perkins Loan, fill out the Free Application for Federal Student Aid (FAFSA). You can find the form online at www.fafsa.ed.gov.

*Better Educational Technology*

The stimulus bill hands over a whopping $650 million to the U.S. Department of Education's Enhancing Education Through Technology (Ed-Tech) program-double the previous federal budget. Individual states receive money from Ed-Tech, which they in turn distribute among school districts.

As a student, you will benefit from a larger educational technology budget in a number of ways. You will be able to take advantage of advanced online programs, with videoconferencing, 24-hour access, and real-time virtual discussions. Online programs typically represent a huge savings, as the cost per credit is lower and students save on commuting and benefit from flexible schedules. You will

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