Jamie, I didn't mean to be insulting, I only wanted to point out that you and your husband are considerably "behind" in terms of your ages and finances. You have a negative net worth of at least $11,000, in addition to however much negative equity is in your home, and you're asking us about going $70,000 further into the red. At your age, your net worth should be mid-six-figures in the positive, not negative, and thinking about going deeper.
I'm glad to hear you have life insurance, I'm hoping it is (as I said) at least $500,000 each. Employer-provided coverage is usually limited to 1 or 2 years' worth of salary, and with your husband being only part-time, I worry that it's merely a token amount. I hope the supplemental coverage you mention tops him up over $500k.
All that said, I still think it's too late/too expensive to be starting from scratch with such a time/money-intensive program. I think the best way he could serve his family would be to find a profession which is in demand in your area, get the necessary training and certification (maximum 2 years), and work his butt off and graduate at the top of his class. He needs to build his network, volunteer his time for experience during his training, and make himself into an in-demand superstar in whatever field he decides to pursue.