When new schools emerge most of us know they only have 'partial' accreditation for a limited time until they qualify for permanent accreditation. What some people may not know, however, if that new medical schools have to deposit a large sum of money into an escrow account just in case something happens and the school fails. These escrow accounts are in the upward millions, some $30million+ ( I am not sure if the amount is set or if it just has a minimum requirement.) at times. They are used to reimburse the students of the "failed" medical school and also to help students move to another medical school location to finish out their education. Students should never worry about a new school failing, I think that only one school has ever had an issue with obtaining full accreditation, but then again I could be wrong..it is basically unheard of, though.
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How rigorous is COCA accreditation? Compared to LCME?
