From what I’ve seen, there’s a whole system set up to move students over to accredited programs if an accreditation falls through. Full accreditation should be achieved with the first graduating class, so there’s no being bit in the butt a couple years after graduating. It really shouldn’t be any different than going to a school that is due for reaccreditation except track record. But, if you happen to be an active (or recent) student at a school that loses its accreditation, you’re going to feel the anxiety or embarrassment or whatever anyway. Anywho, I’m pretty sure that absolutely no up & coming schools would waste the of time and money necessary to start and run a med school just to let it all crash and burn with their first class (or any class). There are too many people working to make sure that doesn’t happen.
My info is based off of memory from looking at different school sites. For more details, just go to one of these schools’ FAQ and they should have an official answer written out.