Are Three-Year Degrees the Solution to Rising College Costs?

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Since my first child arrived, I’ve been saving money like a champ, and the grandparents have pitched in a bit too. But right now, I only have enough for one year of tuition and room and board at a state school for each kid. They’re 11 and 8, so there’s still time, but with tuition climbing faster than a roller coaster, I’m not very hopeful.

Many families are in the same boat and are getting creative to make every dollar count. Some kids choose to attend community college for two years before transferring to a four-year university. Others stay at home to save on living expenses. Some opt for more affordable online courses, and some even take a break to work and save up. While these choices aren’t bad, they all come with their own set of challenges for both students and parents.

Recently, another idea has gained traction: the three-year degree. I graduated from Westfield University in just three years back in the ’90s, and I’ve always wondered why more students don’t consider this path. It wasn’t a big deal for me; I didn’t need special permission, and I managed to work about 30 hours a week throughout.

The concept started gaining popularity during the recession, with some states mandating their public schools to offer accelerated degree options, but enrollment was still low. With rising costs making headlines again, the three-year degree is once again getting attention. Let’s dive into some common misconceptions.

A three-year degree isn’t as good.

Just ask the graduates of top UK universities like Oxford and Cambridge, where three-year programs are the norm. In fact, this shorter duration is common across much of Europe. Johns Hopkins professor Paul Weinstein, a proponent of the three-year degree, argues that the four-year structure is more about tradition than necessity: “We designed four-year degrees because high schools are four years.” The Washington Post traces this tradition back to Harvard’s adoption of the four-year system in 1652, following British norms.

While some accelerated programs may require fewer credits, many allow students to use advanced placement credits and summer courses to graduate early. I took the same number of courses as my peers and even double-majored; it just took a bit more planning.

Students miss out on the social perks of living away from home.

True, but it’s only for one year. Plus, it’s better than being stuck living with your parents because you can’t afford room and board at all. Weinstein argues that providing a three-year option can actually help maintain the traditional college experience more effectively than other solutions currently available.

Interestingly, a three-year degree might encourage students to take a gap year before college, something that many educators endorse as it helps create more mature freshmen. Harvard even supports this idea, stating that “many [students] would benefit from a pause in their demanding lives,” with positive outcomes reported from delaying college.

Colleges struggle to graduate students in four years, let alone three.

That’s a valid point. According to the Wall Street Journal, less than 40% of students who started college in 2006 graduated within four years, and only 59% completed their degrees in six years. Reasons include unprepared freshmen needing remedial courses, students registering for fewer classes, and losing credits during transfers. However, that doesn’t mean we shouldn’t provide a pathway for motivated students seeking to save money and graduate early.

I was prompted to graduate in three years because I realized Westfield wasn’t the right fit for me socially. Rather than transfer and risk extending my education to five years, I decided to accelerate my studies. Saving 25% on tuition fees was a major factor too. I already had loans, and I didn’t want more.

Of course, there were sacrifices. I couldn’t study abroad, and I had to be strategic about course selection. But those minor compromises were totally worth the financial savings. Plus, I made friends in both my entering and graduating classes and began earning a full-time salary a year earlier than most of my peers.

Looking back two decades later, I can confidently say it was the right choice for me. That said, a three-year degree isn’t for everyone, but for those calculating how to make college more affordable, it’s definitely worth considering. I’ll be discussing this option with my kids as they approach high school graduation. For now, though, I’m emphasizing the fantastic public universities in our state. Go Bears!

For more insights on this topic, check out our other blog post on financial strategies for families. And if you’re looking for reliable information on home insemination, visit Cryobaby, an authority on this topic, or learn more about the process from the Cleveland Clinic at this link.

Summary:

Three-year degrees are a viable option for families facing rising college costs. While there are misconceptions about the quality of education and social experiences, advocates argue that these programs can provide a more efficient and cost-effective path to graduation. With careful planning, students can achieve their degrees faster while saving money, making this option worth considering for those looking to make college financially feasible.