First lady Michelle Obama and Secretary of Education Arne Duncan sat down with Don Francisco to talk about scholarships in a "Sabado Gigante" segment.

Obama talked about her own experiences as a young student, which she said was "actually, not as difficult as people would imagine," referring to receiving scholarships and adding that today there are "billions of dollars in financial assistance available to students in this country."

Don Francisco said that 40 percent of scholarships available to Latino students go to waste because students are not aware of them.

"They don't know they exist, and they don't take the first step, which is filling out the FAFSA form," Obama said.

Duncan said that the form has become simpler; on average, it takes 30 minutes to fill out. He was even told by one college applicant that it took her 15 minutes to complete the form. According to Duncan, the time commitment does not seem like much when considering that it gives students the possibility of accessing the $120 million available in scholarships.

Obama also took the time to talk about her daughters, joking that she tries to get them up early with her but cannot. She also said that Malia and Sasha Obama know their parents expect them to go to college.

In addition, the first lady spoke about how independent her daughters have to be about their studies.

"Now that they are older, they know they have to be responsible...," she said. "But I know what homework is due. I know when tests are coming."

One of the messages Obama wanted parents to receive is that college does not have to be a scary concept. She thinks parents should look for help, especially at their children's schools.

"I know that for my parents it was a bit intimidating having two college graduates because they didn't know how to support us," she said.

Obama did not feel intimidated, however.

"I never thought about it for a second," Obama said about coming from humble beginnings. "I thought 'I'm as smart as any of these kids going to these schools, and if I work hard enough, and am persistent, I can do that.'"

She then told the students that when they see her, they shouldn't see "somebody different."

"I am exactly like you," she said addressing the group of Latinos sitting near her. "And if me and Arne can go to college ... you can do it, too. There's no magic. It requires hard work."

Watch the entire interview below.