As recently as three years ago, it seemed unlikely that the existing system of accreditation would survive the next renewal of the Higher Education Act in anything remotely resembling its current form.
From across the political spectrum (right and left) and from various segments of higher education itself (particularly community colleges in California and elite universities across the country), many asserted that the system of peer-reviewed quality control was irretrievably broken and in need of replacement.
In some ways little has changed today. Accreditors still have enemies aplenty, and the twin (and in many ways conflicting) critiques that accreditors go too easy on poorly performing institutions (as asserted by foes of for-profit colleges and in a recent takedown in The Wall Street Journal) and that accreditation is a barrier to innovation (an argument made by President Obama and candidates on the 2016 presidential campaign trail) are not going away.
For all the protestations about accreditation’s limitations, though, a new consensus has emerged, even from tough critics of the system like Kevin Carey of New America Foundation, who sums up the view this way: "No one really likes accreditation but no one knows what else to do."
Read more at Inside Higher Ed: https://www.insidehighered.com/news/2015/09/01/accreditation-will-change-survive