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Regional vs. National Accreditation

Quite often we meet with prospective students that are told from competitor schools (both private/public) that they should not go to a school that does not have regional accreditation. I understand that being accredited is a self-regulation, but why is it stressed so much out there and the perception of individuals looking at schools is that schools that are only nationally accredited are not worthy to go to? What is the difference? No one has been able to quite describe this to me in laments terms.

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