I can’t comment on the tuition bill in teaneck, but I highly doubt anyone is paying that in Lakewood. And guess what? For what you pay in Teaneck for a modest home, you can get a palace in Lakewood (ok, the commute will be longer), but you will save a bundle in tution (Gosh, for even $30g I would be a hero in my school)
And messing with the equity in your house is nuts, plain and simple. Its the untouchable. Its what most folks retire on, and seeing as how life expectancy is getting longer and longer, that money will need to be there for you. Bottom line: put a reasonable cap on tuition. If everyone paid a fair share (and by everyone I mean teachers / rebbeim too) there would be almost enought $ to support the yeshiva system. Would we need to fund raise? Sure. Would schools need to reign in their spending? Sure.
That’s what we call fiscal responsibility.