Walking away from student loan debt is not an option. It will follow you for the rest of your life or the next 25 years and wreck havoc on your financial affairs.
Exhaust all scholarship and grant opportunities before you shackle your life with student loans debt. Scholarship Information http://www.finaid.org/
I do not know much about this site but it seems to be a website that will assist in the scholarship and grant process: http://www.studentawards.com/
Taxable interest for student loan debt from the IRS: http://www.irs.gov/individuals/students/article/0,,id=177520,00.html
More information to assist in any question you may have on student aid: https://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp
IBR Income Based Repayment Plan Calculator https://studentaid.ed.gov/PORTALSWebApp/students/english/IBRPlan.jsp
More on ‘Pay As You Go Plan’ a brain child of President Barak Obama. It is still in a pre-legislative stage.
More on how to manage your student loan debt. https://studentloans.gov/myDirectLoan/index.action
NSLDS National Student Loan Data System. http://www.nslds.ed.gov/nslds_SA/
Repayment Plans & Calculators. https://studentaid.ed.gov/PORTALSWebApp/students/english/OtherFormsOfRepay.jsp
The US Department of Education; what college costs. http://collegecost.ed.gov/
A check list of what is needed to know for your college experience: https://studentaid.ed.gov/PORTALSWebApp/students/english/publications.jsp