@runswimyoga You answered your own question. You admit you have substantial assets. I fail to see why families with substantial assets should not be expected to make use of those, including home equity. Many families have no such assets.
As for Wharton, the income benefits from going there are massive. Sorry, I find it hard to be very sympathetic. By almost any measure, you do not have significant demonstrated aid. And no one is forcing you to attend Penn. What’s wrong with your local flagship state university if you find Penn’s tuition too onerous.