New study casts doubt on whether accreditation of our colleges is a good mark of quality.

“Don’t waste your time and money. If that degree isn’t from an accredited school, potential employers won’t care that you have it,” advises G.I. Jobs, a website dedicated to giving guidance to veterans.

“Attending a school that is not accredited at all can mean leaving your education and your future up to chance. Schools that are not accredited are held to few or no standards or regulations,” says the University of Louisville’s online programs site.

And if you want federal financial aid to go to college, the institution you attend must be accredited or else it can’t receive federal financial aid.

So is accreditation a good mark of quality?