President Obama plans to attack Paul Ryan's education policy at stops in Columbus, Ohio, and Reno, Nev. Tuesday. (Who says this campaign has no substance?)

The president is also touting his own "Pay As You Earn" policy, which caps loans at 10 percent of discretionary income. A calculator on his campaign Web site shows student debtors how much they would save under the program.

A recent Obama ad attacked Mitt Romney as out of touch on the cost of college.

Obama's attacks assume across the board cuts in both Romney and Ryan's budgets, which would take billions from the Department of Education. Both Ryan and Romney say they would not implement their cuts in that way and have not laid out details on education spending. Ryan would limit the number of students eligible for Pell Grants.

Ryan is campaigning in Pennsylvania, where he is expected to focus on small business and defense cuts; Romney is attending fundraisers.