This paper describes how to construct a low-cost magnetic levitation system (MagLev). The MagLev has been intensively used in engineering education, allowing instructors and students to learn through hands-on experiences of essential concepts, such as electronics, electromagnetism, and control systems. Built from scratch, the MagLev depends only on simple, low-cost components readily available on the market. In addition to showing how to construct the MagLev, this paper presents a semi-active control strategy that seems novel when applied to the MagLev. Experiments performed in the laboratory provide comparisons of the proposed control scheme with the classical PID control. The corresponding real-time experiments illustrate both the effectiveness of the approach and the potential of the MagLev for education.