We don't have any classes like that here. I'm going to end up transferring up to Virginia (hopefully). They will probably have a few blacksmithing classes up there. If not I'm sure I can figure something out. My main concern is finding a place to work if I'm living in dorms.
As for budget, I'm going to say $900.00 cash in hand to get started. I'm thinking of building a forge similar to this, but with a different blower. http://www.popularmechanics.com/cm/popularmechanics/pdf/pm-forge-1941.pdf
I was thinking of using a bench grinder for a blower if I can't get a hold on a 1/2hp motor. I'd prefer to keep the bench grinder as a bench grinder though. Might end up buying two.
Tools, I planned on making that my first goal for working metal. Try to work out some tongs and then move on from there.