The Three-Year Bachelor's Degree

Newsweek just ran an interesting article on colleges that are offering three-year bachelor's degree programs for high achieving students. The financial benefit of this type of accelerated program can be significant -- $40,000 or even $50,000 in saved costs at a private college, plus the ability to start earning income sooner. Given that the average amount of time to graduation is close to five years (and that's for students who don't take time off), the savings of the three-year model look pretty attractive.

The idea of earning a bachelor's degree in three years, however, is nothing new. A while back I wrote about strategies for graduating early which include taking AP and IB classes in high school, taking the maximum number of credits in college, choosing classes wisely, and taking summer courses if necessary. For decades students have been arriving at college with enough credits to earn them sophomore standing.

Recognize the downside to graduating quickly. I'm pretty sure I couldn't have earned my double degree in Materials Science and English in three years (I took five), and in general a three-year undergraduate career will make it much more difficult to double major, minor, or take enriching elective courses. Also, you'll have less time to develop meaningful relationships with the faculty, conduct undergraduate research, participate in internships, study abroad, and work your way into campus leadership positions.

The Newsweek article presents higher education as an inefficient system that needs an overhaul like the auto industry. Is this an apt comparison? High efficiency could certainly save money for students and universities. But do you think it will create better graduates? Share your thoughts below.