College accreditation began as a voluntary means to advise American institutions of higher education on "best practices" and signal to prospective students and their parents that the accredited school offered a quality education. This document critiques the current accreditation system in higher education, which has shifted from a voluntary advisory role to a regulatory gatekeeper for federal funding. This transformation has fostered inefficiencies, stifled innovation, and redirected resources from teaching and learning. Recommendations are provided for policymakers and universities, offering strategies to empower states and institutions to reclaim autonomy, reduce compliance burdens, and foster innovation while improving educational quality.