Washington DC - On Friday, April 24th President Obama addressed the rising cost of college tuition and underscored the need for America to face this problem head on. After decades of increased tuition & fees from state legislatures, families can no longer keep up with college costs, forcing students and their parents to take on large amounts of loan debt.

After meeting with a family at the While House today, President Obama defended his budget proposal to make the Pell grant, the cornerstone of federal financial aid, a mandatory prorgam that damilies can now depend on to help meet the rising costs of attending college. The President's plan pays for this initiative by eliminating the tax payer follars that go to banks to issue loans. "Congress must act quickly and pass a budget resolution that supports working families and struggling students not private banks who have profited from taxpayer dollars for too long. Students have been waiting far too long for the help they deserve to renew America's promise and rebuild your economy," stated Berkley.