If you want to go to school but have no paycheck because you have recently lost your job, then you should read this New York Times article by Tara Siegel Bernard, "How to Bear the Tuition Burden Without a Paycheck": http://www.nytimes.com/2009/08/20/education/20COST.html
There are several links within the article that are worth exploring.
One such link is http://opportunity.gov , which collects all financial information and other opportunities for unemployed workers.
A friend also told me about a program that pays 65% of your COBRA premium while you are unemployed.
On the website, "The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months for those eligible for COBRA during the period beginning September 1, 2008 and ending December 31, 2009 due to an involuntary termination of employment that occurred during that period."
For more information on this program, http://www.dol.gov/ebsa/cobra.html
Some more information I found: http://www.familiesusa.org/issues/private-insurance/understanding-cobra-premium.html
I hope you find these links helpful and a good starting point, but answering questions about COBRA and medical extensions is beyond the scope of this blog.