I don't have nearly as fancy of a tank, but as a college student I'm having to make-do with extremely limited funds as well. Everything I've got going on is low-tech, and lit with either stock lighting, or thrift-store lamps with cheap CFLs (store-brand 23 watt CFLs were on sale $.78 last week! I stocked up. And by stocked up, I mean I bought two...
) I'm just this side of struggling to pay rent, living on pasta and tinned tomatoes, but when I sit down in front of my tank, even as algae-infested as it is (I'm working on it...), I can watch my fish and take a deep breath and everything is okay for a little bit.
If you desperately need the money, sell things off. But if you're managing, as long as you don't spend any MORE money on the tank, I'd say keep it as a low-tech and take what comfort you can from it. I tried for a while, while trying to save up for a car, to live completely luxury-free. It was miserable, and not having a car is worth it (imo) if I can have a hobby and a few nice things in my life.
(Toothless kitty might enjoy it, too, if you give him a recovery bed close enough to the tank to see, but far enough to not jump in