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There are tradeoffs, but this seems like a great way to speed up the transition to adulting and avoid arrested development

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There's a nascent trend of colleges offering a 3-year bachelor's degree that I could see becoming a norm in the future.
Of 8 theories that explain the value of a 4-year degree, all but the human capital theory can be mostly satisfied in 3 years. The 4th year is as costly in time, dollars and opportunity cost as years 1-3, but offers highly diminished added value for most students.
The 120 credit hour bachelor's degree is arbitrary, dating back more than 100 years. The purpose of college, makeup of the student body, and expectations of employers are wildly different today. But college accreditors are a creature of habit and, until the past 2 years, few were willing to stray from the norm.
An accreditor approved 2 colleges, BYU-Idaho and Ensign, to offer a 3-year degree in 2023. Since then, all accreditors have either changed their rules or started the process. The degree has a modified name, like "accelerated" or "applied", for those who choose to distinguish between graduates of each. I predict most employers will not.
Utah, Indiana, and Maine have each encouraged their public universities to pursue the option. Massachusetts is next. The option increases the number of students a state school can serve and lowers the cost to the student.
The 4-year degree won't go away, nor will graduate school. But many employers will be satisfied with the knowledge, signaling, and growth that a shorter degree offers and it will likely improve the value proposition of higher ed for many students.

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