Some people go to college to learn, some go just to get a job. I think colleges should still exist for the former, but the latter should be able to instead use online resources then get accredited (which they'd do if it gave them the same job prospects).

That would also let professors devote more time towards teaching the former, and less time grading and handling grade complaints (from either group, since the former can also be graded by the accreditation and, if they get a non-academic job, in their probationary period).