The Obama campaign opened a new line of attack on Mitt Romney in its latest swing state TV ad, seizing on the Republican's approach to financing higher education.

The 30-second spot says Romney wants to cut federal college aid for millions of students and encourage them to go into debt, replaying several times this line from a March speech at Otterbein University: "Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business," Romney said.

In response, says the Obama ad's narrator: "Get real, Mitt."

Obama is portrayed positively for doubling funding for Pell grants and capping repayment rates for some federal student loans in his first term.

You can watch the ad HERE.

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In response to the ad, the Romney campaign pointed to the rapidly rising college costs and levels of student debt over the past three and a half years.

"Under President Obama, the costs of college have skyrocketed - making it more difficult for students to attend college - and his economic policies have made it harder for graduates to get jobs," said Romney spokeswoman Amanda Henneberg.

"Mitt Romney will encourage innovation and competition to make college more affordable, and his economic policies will give recent graduates the job opportunities they deserve," she said, highlighting a contrast between the candidates on how to help more young people afford college.

The ad - dubbed "Get Real" - begins airing today in Colorado, Iowa, Nevada, Ohio and Virginia. It's the Obama campaign's third TV spot on higher education, but first on education to mention Romney.