Is College Accreditation a Sham?

There are about 2,618 accredited colleges and universities in the United States. Why? 
Here's the facts, about all of them:

-They, on average, only graduate 55% of their students.  That's an "F."
-They have tripled the debt their students incur over just ten years ago.
-The majority of students are given the wrong grade by their teachers.  That's also an "F."
-They discriminate against half of their students, a violation of the Title IX law.
-They have dumped the U.S. position in college graduation from #1 in the world down to #18.

And yet these institutions are "accredited. "   Please explain why.

Nine Shift Photo: Young woman in boat in Puerto Rico.