to reduce the burden of student loans on young people.
"We need to bring down the cost of college and give more young people the chance to go to college. So a couple of months ago, I put forward an ambitious new plan to do that, to reduce the cost of college," he said.
Obama stressed that America needs a budget that is responsible, fiscally prudent and one that "cuts what we don't need, closes wasteful tax loopholes that don't create jobs, freeing up resources to invest in the things that actually do help us grow – things like education and scientific research, and infrastructure, roads, bridges, airports.
Having dealt with the government shutdown, Obama has his eyes set on passing the country's immigration reforms.
"As we close out the new year, we still have a chance to get immigration reform done and a chance to affirm that we're a nation of laws and a nation of immigrants."