The condensed programs have exploded in popularity. As of this spring, 26 U.S. states have a college that offers at least one reduced-credit, three-year bachelor's, according to the nonprofit research group RAND.

lon Musk, Alex Karp and Peter Thiel are challenging the four-year degree as the default path for elite talent—and, in some cases, building their own alternatives.

States are imposing gag orders, banning topics, taking more control of curricula and weakening tenure protections, PEN America says.

Public Service Loan Forgiveness, which was created in 2007, wipes away the federal student debt of government and nonprofit workers after 10 years, or 120 qualifying monthly payments.