Virtual learning is a method to access and share study materials on the web and other distributed networks. Grid technology is used for efficient resource sharing and voluminous data processing. Grid based E-learning environment will ensure efficient utilization of learning objects distributed around it. Scheduling and load balancing among the nodes is a great challenge faced by a server in grid. This makes many research people to carry out their work in load sharing and balancing between nodes. Though the existing methods provide solution for load sharing and balancing it requires high cost. This paper, mainly focus on allocating loads among nodes in the grid with minimum cost. K-means algorithm is used to cluster the nodes. Clustering increases the performance of load balancing by forming tighter clusters.