Non-accredited PsyD. Programs?

[Jahanara]

I know someone who has done a masters in counseling program that is designed for licensure as an LPC (though it does not indicate whether the program is CACREP accredited or not on the college's site), and is now doing a non-accredited PsyD. from the same school (College of Saint Elizabeth in Morristown, NJ). It's not APA-accredited but the site says it is designed with to meet APA criteria, and the school seeks to apply for APA accreditation at the "appropriate time". According to the school's site, students are eligible for spots in APA and non-APA internships.

 

Given that the school is private and the cost of these two degrees together is well over six figures, what is the point? Many have said the degree is worthless, but I've read that in certain states if one can show that the program is equivalent to APA programs, licensure can be obtained. 

 

What's the rule on this? If the school gets accredited in the future, is the degree worth it? I'm skeptical overall of private programs, but I'm also skeptical that someone would be so naive as to spend this much money and time to go to an unaccredited doctoral program, especially in light of the glut of clinicians in the tri-state area. What are the chances of getting an APA internship? Chances of licensure? I know several people going the PsyD. route and some of them are willing to go into questionable programs- but we're all adults here, there must be something that everyone's missing, some reason they believe this decision is worth it?