President Barack Obama has put colleges and universities on notice to control tuition costs or face losing federal money. Schools are waiting to hear how big a stick Obama plans to wield.
He's expected to reveal details in a speech today at the University of Michigan focused on college affordability. It will cap a three-day post-State of the Union trip to promote different components of his economic agenda in politically important states.
During his speech Tuesday night, Obama hinted at some the changes ahead. College costs have risen dramatically in recent years.
Last fall, the average cost to attend a four-year public university went up more than 8 percent.
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