A third-degree felony is a type of serious crime that is less severe than first- or second-degree felonies. In many states, it can involve offenses like theft, drug possession, or certain types of assault. The penalties for a third-degree felony often include several years in prison, hefty fines, or both, depending on the specific laws of the state. Individuals convicted of a third-degree felony may face long-lasting consequences, such as difficulty finding employment or housing. It's important to understand that laws can vary by state, so the exact definition and penalties associated with a third-degree felony can differ across the United States.