The best bet for PPC based Macs virtualization would be Virtual PC from Microsoft.
It was trumpeted to be free now, yet the links at Microsoft webpages look hidden and lost...
Here's a direct link for Virtual PC - at least it still exists on their site, and for free as promised. http://www.microsoft.com/windows/products/winfamily/virtualpc/default.mspx
VPC is a bit slower than Fusion or Parallels would be on the Intel Macs (as it is older and has to emulate instead of virtualizing), but for one or two courses at university it is definitely not worth to get a new Mac to run it faster.