(ARA) - If you have been putting off a college education because of money worries, you might consider newly expanded financial aid programs. The new American Recovery and Reinvestment Act of 2009 sets aside $30 billion to make schools more affordable and $40 billion for state grants. According to the government, this money will enable more students to go to school, thus bolstering the American economy.

Students are the first to benefit from this money. As part of the act, the higher education tax credit was bumped up to $2,500 dollars. An additional $17 billion was designated for Pell Grants. The Federal Perkins Loan Program increased to $6 billion in loans every year. Finally, a federal-state partnership supports a $500 million grant program to improve retention and graduation rates.

"This bill alone makes it a very good time to go back to school," says Marcus Varner, an education analyst at ClassesandCareers.com, a free education information service. "This administration is trying to remove any financial barriers for people wishing to go to school. But this money won't be out there forever. People need to act soon."

Fortunately, thanks to a growing number of online education options, degree-seekers can take advantage of these benefits without leaving their jobs. Sites like ClassesandCareers.com have helped thousands of degree-seekers find out how to qualify for the benefits and enroll in online universities.

"Educate people," says Varner. "They can start by visiting and filling out the form. We guide them through the rest."

Find out if you qualify for these financial benefits.  Visit ClassesandCareers.com, fill out their form, and indicate which schools you may be interested in. An education adviser will contact you and help you determine how to qualify for federal financial aid money and start a new career in the major of your choice.

Sponsored content provided by Classes and Careers. Copyright ARAnet, Inc.