Not going to happen.
There's too much of lobbying money, too big a political price to pay , not to mention too many employees ( around 50K) and too many students ( more than 2 million) that would be affected for govt to do anything as serious as cutting off ALL funding.
Reduced govt funding - Yes. Zero govt funding - not a chance.
In a reduced govt funding scenario, I think the best of the for-profits are going to survive ( irrespective of how education landscape changes).