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Low income students who play their cards right may end up with a free college education.

The new stimulus package signed into law by President Obama on Tuesday includes a provision that boosts the Pell Grant maximum to limits that cover, or nearly cover, the tuition and fees charged by a number of public colleges.

Based upon figures provided by the College Board, the average tuition and fees at a 4-year public college for 2008-09 were $6,585 per year, with most schools falling between $3,000 and $6,000 a year.

The Pell Grant, which provides federal funding to students from families making less than $30,000 a year, has been raised to a maximum of $5,350 per year with the passing of this stimulus bill.