Good point. i looked it up and found this:
"Southeastern Baptist Theological Seminary and the College at Southeastern are accredited by the Southern Association of Colleges and Schools Commission on Colleges to award associate, baccalaureate, masters and doctorate degrees."
So that seems to be only a regional accreditation? I really don't have a firm grasp on what accreditation means and does.
I am a current MAPR student at SEBTS, and I love it! The school has a great emphasis on both quality academics and is known as the Great Commission Seminary.
As to accreditation, accreditation bodies are recognized by CHEA, which is ultimately recognized by the US Department of Education. This is why accreditation can be considered privatized, because each accreditation body is its own private entity. There are two "levels" of accreditation: national and regional. Right now, there are only six regional accreditation bodies allowed and recognized by CHEA, while there are many more national accreditation bodies. For this, and other reasons, rightly or wrongly, regional accreditation is considered the "higher" accreditation.
Despite this, a school having even the highest accreditation is no guarantee that another school will accept your credits. A variety of factors come into play, including, but not limited to: the individual school's transfer policy, course and degree overlap, and the "sending" school's reputation, if such things matter to the "receiving" school (which they often do). Consider that if you wanted to transfer to a private liberal arts school to do engineering, many of your SEBTS credits wouldn't transfer, most likely, because we don't offer those kinds of classes. Best thing to do is to ask both SEBTS and prospective schools. I do philosophy, and Frank Beckwith at Baylor (a highly regarded philosophy program) said they take SEBTS very seriously and have admitted our grads into their PhD program before. Bottom line is these evaluative tools and just plain asking around are the best things you can do. This holds true of every school that doesn't already have a national name-recognized brand.
SEBTS is also accredited by the Association of Theological Schools. ATS is widely regarded to be the gold standard of theological accreditation. I hope this helped!