Obama calls for expanding access to higher education

President Barack Obama pledged to find ways to make sure that low-income students have the opportunity to go to college. His pledge came during a White House speech Thursday on college affordability along with First Lady Michelle Obama.

Obama called on an assembly of college and university presidents and leaders of nonprofit and other education groups to rally around a goal of widening opportunities for disadvantaged students.

"We still have a long way to go to unlock the doors of higher education to more Americans and especially lower-income Americans," he said. "We're going to have to make sure they're ready to walk through those doors."

The event, which attracted more than 100 leaders in higher education, underscored both the power of the presidency to convene influential figures to bring about change as well as the limitations of a second-term president trying to drive sweeping changes in the face of a divided Congress.

Jim McCorkell, CEO and founder of College Possible, attended the event and joins The Daily Circuit to discuss the specifics of Obama's proposal. He also gives us an update on college affordability across the country.

The Associated Press contributed to this report.