WARRENSBURG, Mo. -

President Barack Obama is praising a Missouri program that fast-tracks students to low-cost college degrees as a model for the nation.

Obama spoke Wednesday at the University of Central Missouri. The Warrensburg school is a partner with Metropolitan Community College and the Lee's Summit School District in a program known as the "Missouri Innovation Campus."

The initiative allows high school students to start earning college credits and then graduate with a bachelor's degree after just two years at the university. The program also pairs students with business internships with the goal of graduating debt-free.

Obama said the program "is exactly the kind of innovation we need when it comes to college costs."

Gov. Jay Nixon has encouraged the adoption of similar programs at other schools around Missouri.

About 2,000 people attended Obama's speech, which focused on his economic initiatives.

ABC 17's Daniel Winn will be live in Warrensburg this evening and we will carry the speech LIVE on abc17news.com. Stay with ABC 17 News for more on this developing story and ABC 17 News on Twitter for the latest.