I live in Canada, so the loans we might take and the consequences that come with it don't have the same magnitude. I don't think I can help you much, but I'll help to the extent I can. I don't think it'd be too prudent to talk in detail about your finances here, though. PM would be better.
Have you spoken to a financial advisor? There should be some financial help department at your college or registrar or something like that. There might also be mentorship groups that get you in touch with people who have gone through dealing with loans that big as well.
$16,000 seems daunting, but (and I'm guessing you're in the US here) a lot of people manage to get past it, so I'm going to say so can you. Hang in there! :)