Crossroads GPS, a conservative nonprofit group founded by Karl Rove, announced a $9.7 million ad buy attacking President Barack Obama over student loans, jobs and the economy.

The ad, entitled "Basketball," features a woman whose grown children are still living at home, saddled with student loans and looking for a job.

"I always loved watching the kids play basketball. I still do, even though things have changed. It's funny. They can't find jobs to get their careers started, and I can't afford to retire, and now we're all living together again," says the narrator. "I supported President Obama because he spoke so beautifully. He promised change, but things changed for the worse."

The ad will run in Colorado, Florida, Iowa, Michigan, Nevada, New Hampshire, North Carolina, Ohio, Pennsylvania and Virginia. The $9.7 million buy is part of a $25 million ad campaign announced recently by the group.

The ad appears to be targeting independent women in swing states, a key bloc that the Obama campaign is also courting. The spot makes a nod to the president's eloquence, but then hits him on his record -- a note that Mitt Romney recently hit when he said, "Even if you like Barack Obama, we can't afford Barack Obama."