How often does a new school loose accreditation?

[prehealth00]

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Has anyone heard of a school not getting fully accredited or loosing its candidacy? I'm asking because of the incredibly high tuition cost I have seen for some of the new schools and whether it's worth he risk
Thanks

 

[JohnFe]

As far as I know of, it is very slim for a school who got full accreditation to lose it. However, new schools are very volatile and so I've heard that ACPE standards are becoming "higher" /sarcasm

Here are some stats from ACPE:
Accreditation Statistics

129 Colleges and Schools with accreditation status

- 109 Colleges and Schools with full accreditation
- 16 Colleges and Schools with Candidate status
- 4 Colleges and Schools with Precandidate status

360 Continuing Education Providers with Accreditation Status

2 Continuing Education Providers who have inactive status

5 Continuing Education Providers who have probation status

Source: https://www.acpe-accredit.org/students/faqs.asp

 

[kcha90]

It's not worth the risk.

 

[Starshipp]

I hope that the standards are so high that West Coast in Cali doesn't get accredited. We have enough schools in Cali and enough pharmacists as is.

I think getting accreditation is easy though. Seems like any school gets accredited so long as they submit an application unless they are doing a really horrible job…like some schools that closed their doors completely.

 

[JohnFe]

I hope that the standards are so high that West Coast in Cali doesn't get accredited. We have enough schools in Cali and enough pharmacists as is.

I think getting accreditation is easy though. Seems like any school gets accredited so long as they submit an application unless they are doing a really horrible job…like some schools that closed their doors completely.

I hope so too. There are already a limited number of openings for jobs...

 

[prehealth00]

So say if a school looses candidacy status while you are attending and closes down, you still owe all that tuition money right? Or is there a way to get out of that loan?

 

[JohnFe]

So say if a school looses candidacy status while you are attending and closes down, you still owe all that tuition money right? Or is there a way to get out of that loan?

Correct me if I am wrong, but when I took out a loan as undergrad. (It is federal loan). In the required readings, it says that it will be forgiven if the institution loses its accreditation.

It will be different policies in different type of loans such as private loans.

Lastly, why invest in an uncertain school? Where your time, energy, and money is at stake?

 

[The Recoverer]

Not sure about fed loans. For private loans. ALL loans must be repaid regardless of loss of accreditation

 

[JohnFe]

Not sure about fed loans. For private loans. ALL loans must be repaid regardless of loss of accreditation

Closed School Discharge
You may be eligible for discharge of your Direct Loans and FFEL Program loans under either of these circumstances:

Your school closes while you're enrolled, and you do not complete your program because of the closure. Any federal student loan obtained to pay your cost of attendance at that school could be discharged. If you were on an approved leave of absence, you are considered to have been enrolled at the school.
Your school closes within 90 days after you withdraw.
You are not eligible for discharge of your Direct Loans or FFEL Program loans if your school closes and any of the following is true:

You withdraw more than 90 days before the school closes.
You are completing a comparable educational program at another school. If you complete such a program at another school after your loan is discharged, you might have to pay back the amount of the discharge.
You have completed all the coursework for the program, but you have not received a diploma or certificate.

source: http://studentaid.ed.gov/repay-loans/forgiveness-cancellation#closed-school

It does apply for direct loans but not perkins loan or private loan.

 

[prehealth00]

This is very interesting, thank you!