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An accredited school is one that has been approved to grant diplomas in the courses that they study. Colleges and Universities that have been accredited for longer periods of time are generally more respected than schools that have only been recently accredited. iiba babok Because of the lower overhead costs involved in providing online degrees, online colleges and universities are often able to offer online degree programs at a substantially lower price than traditional brick-and-mortar schools. When a school doesn�t have to pay for classroom space or spend money publishing teaching materials, they are able to pass these savings on to their students.