“Religious” colleges take government money - scholarships, grants, tax dollars, etc.
Accept Caesar’s coin, do Caesar’s bidding.
This will affect even religious colleges which take no Federal money, so “Caesar’s coin” is a red herring. The precedent is Fedgov taking away Bob Jones’ University’s tax exemption for forbidding interracial dating.
I wish more would apply the same logic to the 501C3 tax exemptions for churches. If churches do so, so they must do Caesar’s bidding.