This report presents the findings of an exploratory study conducted by the Center for Research and Evaluation during the summer and fall of 2009, which focuses on perceptions of the costs and benefits of the accreditation process for high schools in Maine. The study was commissioned by the Penquis Superintendents' Association, a professional organization in mid-Maine. The findings from this study indicate that while local schools continue to value the benefits of the accreditation process, there is growing concern about the ability of school districts to meet the financial cost for accreditation. Schools are also questioning whether their teachers can manage the workload of accreditation on top of other pressing state and federal mandates, and to what extent the accreditation work overlaps with or provides additional information that is not included in state or federal accountability efforts. Appendices include: (1) List of education stakeholder groups included in interviews; (2) List of colleges and universities included in interviews; (3) Interview protocol for high school interviews; (4) Interview protocol for education stakeholder groups ; and (5) Interview protocol for college admissions interviews. (Contains 3 tables.)