Absolutely! As long as the rights reverted to you when it went out of
print, you can go ahead and make it available via one of the POD
companies. It's a great option for an educator like you, since you can
have students order directly from the POD company or an online
bookstore, and only as many copies as are needed are printed.
If you have the original manuscript on your computer that will make
it easier (no re-typing!). Just make your edits and submit.
There is a section in my
e-book about the issues to consider when reissuing a book
(copyrights, copyrighted art and design work, scanning, OCR, book size
etc.) that you may find helpful.
Hope this helps.
Best wishes,
Julie