Division 1 Men's lacrosse teams don't have 40 full scholarships as your suggesting. They only get 13.1 to distribute amounts 45+ players.
This is true, I remember it was 12 full rides per team, but that was a few years ago when I kept current on that stuff.
It's how SUNY Albany built a program - go to hopkins, SU, etc. and come out with X debt, go to Albany, play good comp and come out with something significantly less than X as a debt. Scott Marr is very transparent about how he started to build the Albany program and that was the way - then he got some transformational players and they play a fun style and they've now been a part of any recruits conversation.
Lacrosse is growing, but it is growing in similar places to where it's already popular - meaning upper income suburbs - still very little diversity in the game. One the surface lacrosse is very inexpensive (helmet, gloves, stick, cleats), but in reality parents have been sold a bill of goods and routinely shell out $2000-$3000 or more for club teams and showcases. So much so that HS coaches in some area are seeing kids care more about those than their varsity teams. It's a racket in fact I recall reading somewhere that a guy left Goldman-Sachs to run some lacrosse organization and is now banking over $1mm a year - true or not, I don't know, although seems unlikely, but more than a few guys are making very good livings running clubs and showcases.
I say a bill of goods because VERY VERY few college lacrosse players are on full rides (see the scholarship limits) - you're better off being a smart kid, you'll get more money to go to school - but parents and kids want to feed their own egos.