(unaccredited): Without institutional, departmental, or programmatic accreditation whose source is recognized by the U.S. Secretary of Education or by the Commission on Recognition of Postsecondary Accreditation (CORPA). The U.S. Secretary of Education and CORPA autonomously decide whether: (1) to grant recognition to any functioning or would-be accreditor that expressly wants it, or (2) to withhold or withdraw it from such an entity. In practical terms, recognition constitutes publicizing acceptance of such an entity as an accreditor.

An investor not considered accredited for a Regulation D offering. (Accredited Investor)