Obama turns attention to education, black colleges

President Obama signed an executive order last week on the White House Initiative on Hiistorically Black Colleges and Universities.

The president's 2011 budget calls for $98 million in new money for HBCUs, including a commitment of $850 million over 10 years, according to the White House. The current budget also calls for an increase in the Pell Grant program, raising the annual payout to $5,710. More than half of all students attending HBCUs qualify for Pell Grants and other forms of support, according to the administration. 

In the video below, he speaks to attendees at the White House event.

A marching band performs in the residence of the White House last week. Watch the video below.

President Obama on Monday for new efforts to reduce dropout rates, which he says will help African American, Hispanic and other students.