Time to take her out of the out-of-town college, enroll her locally, and keep an eye on her.
You can stop paying (if you are paying), but there's always student loans and other means to pick up the slack.
That was my first thought.
TOOOOOOO MANY UNKNOWNS TO DECIDE. I'd want a detached-from-family memer--a therapist to explore that issue. Also a trusted friend or 3 to explore it with the daughter.
It COULD make it worse to do what you suggest. CONTROL is a big issue. If the daughter wants to stay in that school and is forced to leave--it would cause her to feel EVEN MORE OUT OF CONTROL AND EVEN MORE COMPELLED TO CONTROL/LIMIT her food intake.
I agree with that --- only some kids are ready to handle the pressures of college and being far from home. Especially if they've been sheltered and protected from the world in some way --- it can be very jolting --- which is why suicides have become a problem in universities.