Smart kids will be able to wrap up college in three years -- instead of four -- by taking more credits per semester if approved by schools, according to the University Council, an advisory panel to the education minister.

The council will include the recommendation in its midterm report to be compiled by the end of the month. Under the current system, college students must attend classes for at least four years and earn 124 credits before graduating.

Some bright students can already skip the last year of college to enter graduate school, but they are only allowed to earn master's degrees, not bachelor's.

The panel's recommendation would permit schools to allow good students to take more classes than the set limit, making graduation possible in as little as three years.

If a student who skipped the third year of high school to enter college -- a grade-skipping system introduced this year -- utilized the newly proposed system, the student would be able to earn a bachelor's degree by age 20.

Some critics point out that such a system may tempt students to earn easy credits, downgrading the nation's university academic level. To counter such arguments, the council stressed the importance of counseling each student applying for the system and giving approval only under strict standards.