EL PASO, Texas -- Frank Acosta is counting the money he could save if he could get out of University of Texas at El Paso in three years instead of four.

“A few thousand dollars; I don't know but I could buy a car with that," he said.

There's a new movement that's sweeping the country, where universities are starting to offer three-year bachelor's degree programs instead of the traditional four-year programs. Advocates said it can save students time and money.

"I love it. It's a good plan, shortens up school, and who doesn’t want to be over with school already?" Acosta said.

In order for it to work, some colleges are requiring summer work; others shorten the length of courses or cut down the number of credit hours required. Colleges that are offering three year bachelor degrees include Bates College in Maine and Ball State University in Indiana. Lipscomb University in Nashville will offer a three-year degree in the future as well as Chatham University in Pittsburgh.

In a written statement to KFOX-14, Texas Commissioner of Higher Education Raymund A Paredes said “We are aware of the phenomenon of a greater emphasis on three-year degrees and will take a look at any proposal that increases productivity or improves time to degree without compromising the integrity of the baccalaureate degree.”

But not every student is onboard with the idea.

"We're doing Maymester right now, and we're putting four months of work into two weeks,” said UTEP student Shaunta Henderson. “We haven't slept or ate in weeks."

So it’s safe to say she wouldn’t be the first one to sign up for such a program.

"I wouldn't do it. If you're going to put a four-year into a three-year, you have to take into consideration the stress the students would face," Henderson said.

Critics said a shorter bachelor’s degree will interfere with the students' academic and social experience in college.

House members in Rhode Island have passed legislation that requires all state institutions of higher education to create three-year bachelor’s programs that will begin in fall 2010.