Obama said, "We have already taken some steps that are building the foundation for a 21st century education system here in America, one that will allow us to compete with China and India and everybody else all around the world."
Obama also urged American parents to gear up and focus on studies of their kids as students from countries like China and India are marching ahead.
"At the start of my administration I set a goal for America: By 2020, this nation will once again have the highest proportion of college graduates in the world. We used to have that. We're going to have it again," Obama added.