This is legislation from someone who has no concept of economics, of business, or of how consumer demand in the marketplace works. The market will dictate if those requirements are necessary. Colleges will get them if that is what consumers demand. Conversely, maybe there is a whole market out there that is willing to forego those assurances in order to have a cheaper education, and this regulation would make college prohibitively expensive for those individuals. It might even allow more regulated colleges not to have to compete on cost against what are currently less regulated colleges. Maybe that type of cronyism is even the point of this bill - it's to help protect high-priced, high-regulated colleges from having to face low-cost, low-regulated competition.