I think the argument immigration reform will make the "queue" longer thus disavantaging foreign students from getting visas doesn't hold too much water.
First up, reforms deal almost entirely with people who are already inside and working in the USA, so any "opening the floodgate" argument is mostly scare tactics.
Second, if the argument is that this will tie up immigration with processing visa requests, then that doesn't really add up, since currently immigration is swamped with deportation orders. That process - checking random people's papers, arresting those who don't have residency, processing them, putting them in cells and deporting them is vastly more time consuming and costly than processing a visa application. Also, most students would be applying for the visa in their own country, or at airports (in the worst case scenario), so I can't see how local processing issues inside the USA will necessarily slow this down.
"Immigration" reform is actually almost entirely about getting people papers who already work and live in the USA. Often they are people who've spent the majority of their life here. So there's no reasonable way this is going to cut into student visas: that's a red herring which doesn't have much justification. It's not like reclassing the paperless poor as residents is going to make usa stick up a "we're full" sign. In fact reform is a win win for tax collection, crime prevention etc. If people are not scared of being stuck in a cell for just existing, they will be more willing to talk to the police.