It depends. Mediation at times can allow for a favorable resolution to a Title IX case. It's going to depend on the specific allegations, the strength or weakness of the evidence against an accused party, the accused party's specific circumstances in terms of their academic and professional goals.
An important consideration is if mediation will result in a disciplinary finding or not. At some schools it will, at others it will not. So it's a very important consideration. If it's going to result in a disciplinary finding, you need to take a step back before agreeing to mediation. If it's not going to result in a disciplinary finding, and say just going to be a voluntary resolution with certain conditions that the hope and goal would be minimally burdensome, it's something to consider.
That being said, at a lot of schools, it's important to understand that if an informal resolution is effectuated or arranged, the accusing party can in the future proceed with a formal process. So there's many nuances and considerations that have to be taken into account. An experienced attorney advisor can help, best understand, engage and advise as to what is best to do.