Effect of contributing to qualified retirement accounts with HELOC funds

This is interesting! am i understanding this right:?
reading through this, you’d save some on your your taxes owed amount by having some of your income placed in pre-tax IRA.
This money you would borrow, so you would owe interest. And, this money would be counted on income for financial aid because you aren’t paying taxes on it.

I’m interested in hearing what you figure out - where you get the financial deal! I can’t figure it out.