Hugs to you and to your daughter. Two thoughts:
The FIRST and ONLY priority is your daughter getting well. Then and only then can she–in conjunction with you as her support team–make a good decision about whether she should return to her original college, attend a different college, or choose a different path. Right now, she is in no position to make that kind of decision. Sometimes you need to worry about the next 24 hours and not the next three years.
I highly recommend the book The Stressed Years of Their Lives: Helping Your Kid Survive and Thrive During Their College Years by B. Janet Hibbs and Anthony Rostain. It addresses exactly the kind of situation you are looking at, as well as other variations on the theme. One of the two doctors who wrote the book has a student whose college career also went off the rails for a period of time, so this is not just an abstract topic for her; she HAS walked in your shoes.