Re: does accreditation really matter?
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Usually, when a new program earns its accreditaion, that accreditation is extended to include all of the classes in the years that were reviewed as part of the accreditation process. So, if your school receives accreditation soon, you should have no problem. As you probably know, a school has to graduate a few classes and have their program run a while and be reviewed in order to be accredited. So, your situation is normal for anyone who takes a chance on a new, unproven, program. If all goes well and the school gets the accreditation, you are covered.
In the meantime.... Be honest. Explain that it is a new program and still in the process of earning its accreditation. If I were in your position, I would ask the school for a letter assuring that they have met the preliminary requirements for accreditation and are on their way towards full accreditation.
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