Many students live in the city/state where they attend college for a majority of the year and a lot of them continue to live in their college town, returning home very rarely. They pay taxes on the income they make there. If the census goes on while they're there they have to put down that they're residing in that city/state which allows the state to collect federal, population-based aid based off their presence. When the state cuts college funding, the multitude of them attempting a state university have the education they're paying for negatively impacted by it.
However, requirements to meet the bare minimum on being a resident in their college town, which they may very well consider 'home,' are often rather unreasonable when it comes to college students (and additional, varying restrictions are often in place at different schools). Most students that go back to their parents for a couple summer months don't return to their college town with enough time to meet the minimum required days in state to get a state license prior to the start of a new semester. Furthermore, acquiring their license requires them to surrender their out of state licenses and to purchase a license/ID imposing an unnecessary financial burden on college students who, in my experience, are rather strapped for cash and who may very well just be making the purchase, if this law is passed, so they're capable of voting. Currently, using Wisconsin as the example, such students can provide other forms of documentation that prove they reside in the state for college. Then they are allowed to vote without all the extra hoop jumping.
Frankly, I can see the opposing point when it comes to votes for state legislators. I don't agree with it as those state legislators heavily impact the funding of public colleges, but I can understand it. It becomes a whole different ballgame with presidential elections and the like though. Especially when you consider that Republican legislators are currently trying to get rid of early voting, election day registration, some forms of pre-registration, etc. It imposes a mountain of burdens that serve no real purpose other than to disenfranchise young voters who traditionally vote for the party the people passing these bills oppose.
Frankly, as far as voter fraud goes, its going to happen. We have checks and balances in place to prevent some of it, but that's only ever going to go so far. But we're not talking about dead people voting. We're talking about living, American citizens having needless roadblocks put in their way when they try to exercise their right to vote. And we're talking about, at least in one case, lawmakers who've been recorded saying that these students don't possess sufficient life experience to vote working toward passing laws that make it harder for them to do so.