The first family might choose to stay in Washington, D.C., after President Obama leaves office in 2016, the president and first lady Michelle Obama told ABC News' Barbara Walters in an interview.

By then, their eldest daughter Malia will be in college, and their youngest daughter Sasha will still be in high school as a sophomore.

"So we've gotta-you know we gotta make sure that she's doin' well… until she goes off to college," the president said. "Sasha will have a big say in where we are."

Barbara Walters' exclusive interview with President Obama and first lady Michelle Obama airs on a special edition of "20/20," "Walters at the White House," on Friday, Nov. 29, at 10 p.m. ET.

Both girls attend Sidwell Friends School in Northwest Washington, the same school Chelsea Clinton attended when her father Bill Clinton was president.

If the Obamas do stay in Washington and maintain a residence in the city, President Obama would be the first president to do so since Woodrow Wilson.

In fact, Wilson, who was partly paralyzed from a stroke, is the only former president in U.S. history to maintain a residence in Washington, D.C., where he stayed until his death three years later.

Nothing has been decided yet, but President Obama hinted that separating Sasha from her high school friends might be asking one sacrifice too many.

"'Cause she's, you know, obviously they-and Michelle-have made a lot of sacrifices on behalf of my cockamamie ideas, the running for office and things," Obama joked.

(Official White House Photo by Pete Souza)