EJ is again absolutely correct. The issue of tapping equity is ridiculous. It is only due to a complete lack of financial sophistication that one could suggest such a thing*.
Going into debt for recurring expenses is a financial disaster. It is alright to take out debt for large non recurring expenses (e.g. buying a house or car, financing a wedding or a move, etc) as long as you expect future income to cover it. But debt for predictable, recurring expenses is a big no-no. It can only lead to bankruptcy.
The only solution is for tuition to be an amount that can be afforded year after year based on actual after-tax earnings. Tuition has to be capped at a level that more than 75% of families can afford based on earnings. The schools must find a way to live on this amount, no excuses. If that means 35 kids in a class, used textbooks, A/C at 73 degrees, and no landscaping, then so be it. It will be no worse than the current state.
*The only sound reasoning for suggesting that one taps equity is to prevent clever people from hiding assets by paying down a mortgage.