Politics

Day 95: Obama Calls For More College Graduates

By Brian Montopoli

April 24, 2009 / 7:30 PM EDT / CBS News

(CBS)

On his ninety-fifth day in office, President Obama announced a series of reforms to America's college loan system. He called for the expansion of Pell Grants and Perkins Loans and for ending the practice of providing government subsidies to banks that issue student loans.

The president also said that all Americans should have a path to college and challenged American young people to commit to at least one year of higher education.

"There are few things as fundamental to the American Dream or as essential for America's success as a good education," he said.

added Mr. Obama: "I want to see America have the highest proportion of college graduates in the world. We used to have that; we no longer do. We are going to get that lead back."