car wont move.. grinding noise? on 1996 Toyota Celica

Hi i have a Toyota celica 1996 automatic and my car doesn't move when i put it in Drive or in 2nd gear, but it Reverses and Parked works fine. Before the car was driving fine until i started hearing a grinding noise but i didn't pay much attention to it, then the gradually revs started going up in order to move in drive and now it simply stands still. It does move in Drive very slowly if i take it to 7000 revs. What is the problem? i am a student and can't afford to pay alot for repairs.. Please Help

Asked by for the 1996 Toyota Celica
Check your transmission fluid level, top up only if it is low. This sounds like your transmission has failed, so you may not have a choice when it comes to an expensive repair. You may have been able to keep the costs at a minimum if you had not ignored this problem, but it may be too late now. Good Luck, hopefully you'll get lucky, but prepare for the worst.