President Obama is preparing to hit the road on a two-day college bus tour that will take him across upstate New York and Pennsylvania to discuss the high cost of higher education.

In a letter emailed to supporters on Wednesday, the president promised "real reforms that would bring lasting change" to the way colleges and universities run their business.   

Here's an excerpt from the president's letter:

The facts are clear. Over the past three decades, the average tuition at a public four-year college has more than tripled. At the same time, many state governments are actually reducing their support for education, and many middle-class students are getting stuck with the tab. Today, the average student taking out loans to pay for education graduates with more than $26,000 in debt.

Just tinkering around the edges won't be enough: To create a better bargain for the middle class, we have to fundamentally rethink about how higher education is paid for in this country. We've got to shake up the current system. 

Read the entire letter here.

The Chronicle of Higher Education reports that while President Obama is vowing to rein in college costs, his options may be few.