Colleges prefer international students because they pay full tuition without any aid whatsoever. Eliminating student loans would then encourage colleges to seek students abroad and lobby for their entry into the country. See Canada.
Endowments are almost entirely used for dubious things like sports and football programs which have a nebulous educational value at best and a negative impact at worst. If you were aware of the industry (which you're not down d00ter) you'd know that there are efforts by the government to already start taxing sports and football programs in particular because of how much money these programs bring in.
Eliminating the non profit status allows business taxes to be collected from bloated college programs, sports, and more.
The goal is to return higher education to its pre 1960s status of being affordable from basic income and not a 4 year long resort with learning sprinkled on top.