President Obama's 'free college' plan would cost $60 billion

Calling President Barack Obama's free college proposal a "significant investment," White House Deputy Press Secretary Eric Schultz gave the plan its price tag on Friday: $60 billion over the course of a decade.

"(The cost) is one the president believes is worthwhile, because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy," Politico reports Schultz telling members of the media.

The White House released a brief video on Thursday night, in which Obama calls for two years of free community college "for anyone who's willing to work for it."

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He also asked for support from Congress on the plan, although experts told Politico such backing was unlikely. Still, "we take Republicans at their word when they say there is an interest in education," Schultz said.