I used to use a lot of acrylic paint. I did some acrylic on canvas work back in high school, which turned out great... and I used acrylics a fair bit in university, too. You have to be careful to get the good stuff sometimes, which usually comes in the tubes or small bottles, like the Liquitex brand. I found that the educational sized stuff that the high school usually had on hand was pretty poor. It had a lot of chalky base in it and not much pigment, so the colours often came out rather bleah once they had dried. Acrylic's pretty versatile, too. You can use it on canvas, wood, walls, brick... whatever! And it doesn't have the ugly fumes that you get with oil paints, either. One thing I do recommend is to work quickly with acrylics and don't be afraid to thin them down a bit with water. Acrylics dry pretty fast, since they're water-based paints.
*stops rambling for now*
Benjamin