SCAD is Accredited by the Southern Association of colleges and schools,
http://www.scad.edu/atlanta/about/accreditation.cfm

The Savannah College of Art and Design
Web Site State: GA
Status: Accredited
Public Sanctions: NONE
Level: III
Additional Info Dr. Rudy Jackson
Contact Info

But not by NASAD, National Association of Schools of
Art and Design http://nasad.arts-accredit.org/

AIA recently acquired their NASAD accreditation. The more accreditations a school has, the more weight their degree carries when you go to get a job.