If your goal is to decrease the amount of money you invest in your undergraduate degree, then you may want to consider enrolling in a three year baccalaureate degree program.

This type of degree program has been available in the higher education sector for a while and really has not gotten much attention let alone many participants. However, given the state of the economy and students’ focus on cutting costs, more and more colleges across the country are starting to roll out this three year option. The abridged degree program is gaining support by colleges and universities because it provides them the opportunity to attract financially savvy students that would otherwise enroll at cheaper public institutions or community colleges.

The University of North Carolina Greensboro, is the latest to tout having a three year bachelors degree program starting this coming fall semester. This accelerated program will be available for students interested in accounting, elementary education, romance languages, and information systems. Based upon the limited number of majors, you can see that this option is not for everyone. BUT, if you are looking to shave $8,000 off your total tuition expense, then this is for you!

If you want to look at other options, the small private liberal arts college of Hartwick in Oneonta, NY is now offering a three year program that estimates cutting (saving) $40,000 from your educational expenses. Russell Sage College (private college for women) is also gaining exposure (and students) for its new three year curriculum that promotes a savings of $31,700.

This type of degree offering is growing in demand to the extent that legislation was recently passed in Rhode Island that will require all of its state institutions to have some sort of three year baccalaureate degree program in the near future.

If you are going through the college search process and costs are an important factor in your selection, you may want to consider one of the colleges listed above (or research the availability of others in your region or field of study). The important thing to remember is that all of the three year bachelor programs I have encountered state that these degree programs are not for the academically challenged. If you are a marginal student in the classroom, you will have great difficulty in achieving your bachelor’s degree in three years and you may not even be admitted to the specialized program from the very beginning.

All in all though, if you are a good student and you want to complete your degree early, save on educational expenses, and get a jump start on entering the workforce a year early, this is a great way to make it happen.