Want to spend less on your college education? Graduate with less debt? Increase your lifetime earnings? Sounds like a come-on, right? It’s not. Anyone can do it. All it takes is a little drive and change in perspective. The secret? Complete your college education in three years.
When we talk about the price of college, we need to consider not only the out-of-pocket expenses such as tuition, fees and books, but also the wages that a student forgoes because he or she is not in the labor force full time during the years spent in college. And both expenses and foregone wages are higher for the many students who take five or six years to graduate, which is now the norm, from a four-year program
President Obama recently called for reducing the law school curriculum to two years to save students money; a similar argument can be made for completing college in three years. Surprisingly, it’s not that difficult to do. There are many strategies students can use to get through college in three years and many colleges even have specific programs designed for students to complete their bachelor’s degree in three years. Yet few students take advantage of the opportunity.
Read Lucie Lapovsky’s article for some ideas for getting your degree in three years, rather than four.