For the new grads, you're still getting tens of thousands of people moving out of campus housing and into the non-subsidized market, so it hardly seems different that bringing people from out of state.
So the ability for your own constituents children to stay in their own home state given choice and opportunities is now equivalent to Amazon bringing in 25K out-of-state employees. Gotcha. That is about as direct a FU from the "I got mine" boomer crowd and politicians that nixed this deal to the next generation as you can get.
So then, colleges are the problem, and they need to downsize, so that there are fewer grads?