Wouldn't you want to take the opposite trade? To guarantee someone else's tuition at a flat rate (or a flat rate plus interest) and then pay for their classes at the market rate once they get to school?
That's what he said. The parents would pay you a flat rate (today's tuition) and you would pay their kid's tuition 10-15 years from now. Assuming the bubble burst before then, you would make the difference in price between today's tuition and the tuition of the future.