Cloud computing is a significant alternative in today's educational perspective. The technology gives the students and teachers the opportunity to quickly access various application platforms and resources through the web pages on-demand. Unfortunately, not all educational institutions often have an ability to take full advantages of the newest information technology. The paper analyzes possibilities of the cloud computing technology that can help educational institutions to support the process of teaching and learning. There is also presented a cloud computing technology based solution introducing the MS "Live@Edu" environment as a means of communication and collaboration between lecturers and students. The authors have a successful experience of using MS Live@Edu during 3 academic years for delivering about 10 unique courses for approximately 700 students in Kaunas University of Technology (KTU). The use of MS Live@Edu environment for educational purposes is summarized by explaining the advantages of cloud computing gained both by lecturers and students.