Will Almeda University apply for Regional Accreditation in the Future?
Very unlikely. Almeda University has spent hundreds of hours contemplating the cost-benefits considerations of regional accreditation.
Most applicants seek Almeda for which it is best known: [to obtain life experience credit equivalencies]. If Almeda University were to be accepted for regional accreditation, a degree issued BEFORE the accreditation date would legally be considered a degree issued by a non-regionally accredited institution. Even if the degree is issued only ONE DAY before regional accreditation is granted.
Regional accrediting agencies have extremely strict regulations on the number of credits a student can earn based on prior learning or life experiences. These agencies carefully regulate the manner in which prior learning is applied as academic credit. Furthermore, the documentation process involved in each credit hour of conversion from knowledge to academic credit is extremely significant and time-consuming. Therefore, as with most universities that offer some credit for life experiences, there is virtually no reduction in cost per credit. For example, a traditional University that charges $450 per credit hour for academic courses may charge $400 per credit hour for receipt of that credit by method of prior learning experiences.
Almeda University has a niche marketplace with a specific demographic that it serves. Almeda University will not turn its back on its alumni nor its prospective students.