We debated it, but that was years ago when rates were lower. We chose instead to use a school payment plan and cash flow it. That way, we didn’t have to come up with a chunk of money upfront. For us, having our kids choose colleges that didn’t require us to borrow was really important.
If you do choose to borrow, home equity May or may not be the best option. It depends on your equity, the market (you don’t want to end up underwater) and other borrowing options that may be available to you. Whatever you choose, keep borrowing to a minimum, because interest really adds up.