Please don’t worry! (Easy to say, I know...) But Federal education loans are very easy to get. And as long as you don’t continue to mess up your credit, any defaults will be off your credit report in 7 years. And there are many ways to make college more affordable- community colleges have excellent transfer programs…

Sorry to hear that, but you can overcome this setback. Start saving now. Instill good work ethic in her, so that she won’t think it beneath her to work while in school to pay for it. Teach her not to go into debt at all or that you don’t go into tens and hundreds of thousands of dollars to “party”. Advise her that…