By The Associated Press

U.S. President Barack Obama
Bill Pugliano/Getty Images U.S. President Barack Obama speaks to students at the University of Michigan January 27, 2012 in Ann Arbor, Michigan. Obama spoke about college affordability to the crowd of more than 3,000 students, saying that he is pressuring Congress for new initiatives.

ANN ARBOR, Mich. — President Barack Obama fired a warning at the nation’s colleges and universities Friday, threatening to strip their federal aid if they “jack up tuition” every year and to give the money instead to schools showing restraint and value.

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