Be very careful about signing for any student loans. Make sure you understand the terms of repayment. If you are default on a guaranteed student loan that you received to attend a school that is now closed, you are still responsible for repaying the loan. You may be eligible for loan forgiveness only if you were still in attendance at the time the school closed. Look at your loan papers and write or call the agency which guaranteed your loan.
Accreditation is an optional process.
A school can choose to go through a self-study and then request an accrediting agency to send a team of experts to visit the school. The State of Wisconsin does not accredit schools. The State issues an approval certificate that allows the school to do business. Credits earned from some proprietary , or other private, schools may not transfer to a degree-granting school. Be careful because some schools may tell you that their credits transfer.