I recommended the story, but with serious reservations. First of all, it tends to consider all new colleges and universities as equal. They’re nowhere near equal. Tons of them offer junk degrees and most of those are in the for-profit segment. Accreditation isn’t the kind of good thing it used to be. Accreditation itself seems to be a for-profit venture and the boards that accredit degree programs would accredit my dog teaching classes in my basement to cats if I had the right connections and made the right donations. The value of the program doesn’t seem to enter into it.
I don’t doubt the value of the sources you cited, it’s just that the raw data doesn’t look deeply into the issue.