Dude, if you want her to file bankruptcy then take as much loan as she can and then declare bankrupt. if not, then get lower apr loans from your side and pay her loans. and then work together to pay the loans in your account. this will save her credit record, and give time to pay the loan.

for the university loan, even they sent the report to the collectors, try talking to the university to settle things between you and the university. I had had once a situation when i was contacted by collection agency, later i talked to the agency i owe money and they withdrew my info from collection agency. so it did not appear in my credit record.