I would highly advise AGAINST attending Academy of Art University. I taught there briefly and was dismayed at how the students were treated by the University. Basically, the university treats their students like customers. Even though you have access to good equipment, you pay for it as well in lab fees, etc., on top of the outrageous registration fees. Plus, I found that many of the faculty were not professionals with substantial experience. They gear their students towards jobs in their area of study which is good, but I didn't find students getting any more work than students from other schools. As others have said, the accredidation issue is a big one if you want to get an MFA. Not worth it, in my opionion, for the money...
I would suggest you transfer to a college that has a good art program. Don't concentrate on an art school. In the end, you will be glad that you graduated with a well-rounded education. AFter, get your MFA. Besides, you'll need an MFA to reach the next level (in most cases).