Student loan collection agency help!!?

Okay... so here's my problem, two years ago I went to college for about a year, I started to lose motivation when I was about 1/4 done with getting a degree, so I just quit school and started working, about a year ago I joined the National Guard to pay for my future schooling and also to get the tuition from my previous school payed for, which my recruiter told me it would be payed for, IE: I gave him the promisary note of the loan, all the paper work, etc. And he told me it would all be payed for, so I figured it was good and a couple of months later I was went to basic training/ OSUT for 21 weeks, I just got home 2 weeks ago. What happened is the Nat Guard never payed for any of the loans, because that program was not available when I joined the guard, so my recruiter didnt tell me the truth. Both of my parents were there while he took the paper work, promisary note, etc. My fault for not looking over my contract, 100% my fault and I don't even blame the recruiter. I wish he would have told me they would not have payed for the existing loan, thing is I still would have joined, but I would have set up payments with the loan company! Now what has happened is that they have turned me and my dad (co-signer) into a collection agency... over a 150 dollar payment that was missed! I went from being happy that I was home to feeling depressed. It sucks talking to your dad about meeting for christmas and then having to tell him this. They turned me into the agency about 3 days before I got home, so I already paid the 150 dollar balance as well as a big portion of the principle. I don't really care about them upping the payments or the late fee, I just want to know if there is any way to have my fathers name removed from the collection agency, it's not his fault, he trusted me to take care of it and I let him down. So now he's feeling like **** and I'm going to try and do something tomorrow. I also don't know what having my name turned into a collection agency will do to me, like I'm not even sure if I'll be able to rent a place. My credit was alright before hand I guess, I have a credit card which I would charge about 100$ a month to and pay it off fully within 4 or 5 days of using it. Any advice or suggestions would be much I'd like to get my dads name cleared if at all possible, and know the negative effects I will suffer, I'd really like to know if I'll be able to rent, take out a loan in the future, etc, while my credit has this blemish on it. Any advice would be very helpful, thank you and have a merry christmas everyone.