Some of my favorite people to meet in college were foreign students. You get to meet diverse people and learn about the world. It's only a win if college is 20% cheaper this year. It's not.
Foreign money coming in will have to be made up elsewhere. It will be made up by raising tuition on remaining students. Schools that have a small enough applicant pool will price out their applicants and close. Likely they will be replaced by for-profit grifts that are much more affordable but don't actually do anything for the students except bilk them. The largest most international most diverse most administratively bloated schools will be fine. It's the small mostly-white rural colleges that will suffer the most.