"According to a new data review,* the restoration of ACICS was a windfall for most of the 85 colleges that failed to find a new accrediting agency by June 12. The majority of these colleges failed to demonstrate that they were able to meet any other agency’s quality standards and would have lost access to taxpayer money had the deadline remained in place."
https://www.americanprogress.org/issues/education-postsecondary/news/2018/07/03/453079/85-colleges-acics-accredit/