(from Forbes):

By Thomas K. Lindsay

Roughly 3,000 American colleges and universities periodically undergo what is called the accreditation process, which is meant to certify their academic quality as determined by one of seven regional accreditors operating in six geographic regions. Since 1952, accreditation by a federally recognized accreditor has been required for a school to qualify to receive student aid funds. Last year, slightly under $240 billion in federal aid was sent to undergraduate and graduate students through grants, Federal Work Study, federal loans, and federal tax credit and tax deductions.

That’s a lot of money. Without it, many schools would likely be forced to close.

But does the accreditation process serve students, parents, employers, and taxpayers? CONTINUE READING HERE