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I disagree. This would be a death blow to Baylor. Where does the money come from for partial scholarships for athletes? And one of the victims(from California) said she went to Baylor because they offered more money. This should always have been Baylor fans fears, losing federal grant and loan money. They're just to dumb to see it.
Agreed, no Fed loans/grants/research dollars would be a really crippling blow. Probably half of Bayrols students would go elsewhere to places where they could get loans and grants. Faculty and staff would be decimated due to losses of students and research dollars. Accreditation could even be endangered.
The NCAA following afterward to salt the earth with additional penalties on Bayrols AD would cut about the only remaining major revenue stream Bayrol would have left. Remember Bayrol built their new stadium with borrowed money. Those payments and probably lots of others will still be due every month. How big of an endowment does Bayrol have again ? They might need it.