If you'd like to save a little cash, you could pick up this particular 3-day:
http://www.uscav.com/productinfo.aspx?productid=16985&tabid=1
This looks like the first recommendation for a pack that's actually big enough to go camping with. It's a pack that's over 4000 cubic inches, which I think is the minimum that should be recommended unless the person is a professed hardcore ultralight minimalist backpacker.
Everything else would require strapping the sleeping bag, pad and maybe even the tent on the outside of the pack. That's a horrible way to use any pack that's not a hauler with an external frame. On any internally framed pack, the sleeping bag should go inside. The problem with the other recommendations is that they were for packs that have a total capacity barely over 2000 cubic inches. A sleeping bag is commonly over 1000 cubic inches. That leaves little space for food, water, cookware and clothing, not to mention other smaller items.
I do think this pack is a poor choice for school, but at least it can actually do both jobs.
Other recommendations can come from looking at REI and seeing what ultralight packs they have. Those are fairly compact, and can often get a lot smaller by using its cinch straps. Bring all your camping gear to REI and try those packs out. That really is the best way to buy any pack. There are other companies that make more compact packs, but they are mostly mail order, and they be too small for a traditional backpacker. If you have a high quality down sleeping bag like a Western Mountaineering, Feathered Friends or Montbell and a very compact shelter, then we can talk about those other companies.