A group of film students at Blaenau Gwent Film Academy in Wales, UK may have just gotten their big break thanks to iconic author Stephen King. King, who has been known to scare the living daylights out of readers with books like Carrie, Pet Sematary and IT has granted students at Blaenau Gwent Film Academy the rights to adapt one of his short stories for the low, low price of just one dollar.

Thanks to King's "Dollar Babies" initiative on his official website, film students can apply to adapt a number of his stories in to movies of their own for the cost of just one dollar. The stories made available are all stories that haven't yet been contracted to be made in to movies and film students simply apply to have the rights granted to them.

Thanks to King's Dollar Babies program, 16-year-old Alfie Evans and 14-year-old Cerys Cliff are the two students who are currently working on the script for King's short story, "Stationary Bike."  Stationary Bike is a short story featured in King's collection Just After Sunset and school tutor Kevin Phillips told Mashable he thinks it will take the work of approximately 30 students to complete the film.

"We pretty much emailed his secretary, Margaret, and she came back to us in 24 hours, and we told her what we wanted to do, that it's not for profit, that our students would be making it, and she sent us a contract through which was signed by Stephen King himself," Phillips said of how the school applied to make Stationary Bike.

King told the BBC that he started his Dollar Babies program over four decades ago as a way to give back. "Around 1977 or so, when I started having some popular success, I saw a way to give back a little of the joy the movies had given me," King said. Phillips credits the author with being "excellent at supporting education establishments."

The students at the Blaenau Gwent film academy know how lucky they are as well. Frank Darabont, who eventually went on to direct two of King's most successful book to movie adaptations, The Shawshank Redemption and The Green Mile, is also an alumni of the Dollar Babies program. The now famed director adapted King's story "The Woman in the Room" in to a short film back in 1983.

Phillips told Mashable that they will definitely be sending King a copy of their finished movie as it's stipulated in the contract that he gets to see the final edit. "That was part of the contract — Stephen always loves to see the work and please send him a DVD when it's all complete."

He also said that once the film is complete his students will work on submitting their movie to short film festivals. "The main thing is that it'll be used to boost the confidence of our young, up-and-coming film-makers to actually say that they've worked on a Stephen King film," Phillips said. "It won't only boost their confidence, but it'll also enhance their CVs and hopefully stand as a stepping stone to further their careers."

The students are hoping their film will be finished by next Spring.

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