Credit hours required for the bachelor's degree

Many students now take more than 4 years to complete an undergraduate degree. I believe this is in large part due to the reduction in financial aid available to them. (And the resulting need for part time employment.) The state of Kansas is now asking us to justify the credit hour requirements for such degrees. They are seaking to reduce this number. (120 hours is the current minimum.) My own view is that the number should probably be increased. Since knowledge grows over time what is required to enter a field has grown and takes longer to acquire.