And do what?
A lot of words but you left that out.
What I would do is have players choose between Education and No Education.
If a player opts for education; his college expenses are provided ( including a fixed amount of living expense; otherwise known as discretionary spending money) and he cannot go into the portal for 2 years. If he decides to transfer he must sit out a year.
Alternatively, opting for college to prepare for the PROs ( no education) would be handled this way: Going to class is optional ( the consequence is flunking out after one year); all expenses to be paid by the player ( no free tuition, no room and board, no living expenses, no tutoring, no money provided by the college at all). You might ask why a player or school would do this?
The obvious answer is for a player in the No Education category should go to the G league and let the pro team pay for his development. Or the individual can go play overseas for pay. College is for education not sports alone. I enjoyed sports in college because I like to compete and it was something to look forward to beside studying. It also provided me with the credentials to enter medical school.
The schools won't be hurt financially if this is done. College students and alumni will still root for their teams and go to games even if those few players who are good enough for the PROs are not there. Just look at the Ivy League as an example. The kids are there for an education, stay the 4 years, teams have a strong fan base who attend games, and sometimes are terrific and compete in the NCAAs.