New York Times says in an editorial that student loans should be subject to sunshine laws, careful policing and ethics rules that make it a crime to take money for access to colleges. This is misguided. Colleges will voluntarily step forward to show that their processes are clean now that there is focus on the issue. Those that don’t should be spared the regulatory burden. Students will go to the school that gives them the best overall package. Competition will steer students to the schools with the best policy–taking into account both student loan rates and what the school does less of due to the way it administers the loans.