USA Today reports:
Reagan National University was supposed to be a place of higher learning in Sioux Falls, South Dakota. But it was unclear how it awarded degrees. By all appearances, at present it has no students, no faculty and no classrooms.
An agency meant to serve as a gatekeeper for federal money gave the university approval to operate anyway. That accrediting agency, financially troubled and losing members fast, exists mainly because it was saved by the Education Department in 2018.
Accreditation might be the driest part of higher education, but these independent groups have huge importance: If they approve a college, the government agrees to give federal grants and loans to the students there.
The Accrediting Council for Independent Colleges & Schools was stripped of its powers by the Obama administration in 2016 for accrediting multiple scam colleges. DeVos returned that power to them. Hit the link.