YES! The higher educational system has been doing just that for years in GREAT BRITAIN!
So, why not in America? Hmmmm...reminds me of the high school system in America. The secret is to focus, concentrate on a narrower field of study. Just because the Liberal Arts programs have been historically set up for a typical four years doesn't mean that it can only work that way. As a British educator would say, "Get to the point...sooner!"
Advantages include a student, who knows where they are headed, reaching that goal sooner. The obvious reason? $$$$ saved...and that important time!
Maybe it's time for our American higher education to come out of the past and rethink...well?
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