You can change the console resolution via GRUB configuration.
In the file /etc/default/grub you can find the following lines, near to the end of the file:

# The resolution used on graphical terminal   

# note that you can use only modes which your graphic card supports via VBE   

# you can see them in real GRUB with the command `vbeinfo'   

# GRUB_GFXMODE=640x480   

Uncomment the GRUB_GFXMODE=640x480 line(i.e, remove the # at the beginning). Change the value 640x480 to the resolution you prefer. Now save the file and run:

sudo update-grub

You can now restart your system.

Courtesy: http://ubuntuforums.org/showthread.php?t=1478692

N.B: I have not checked this solution myself, but it should work fine.