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You can try to negotiate a voluntary repossession. That is an agreed resolution where you voluntarily return the car to the lender. Since the terms are negotiated, you may be able to get them to agree not to report it. Since it is a negotiated settlement, you can request any terms you want.
Otherwise, you may be able to sue him and allege promissory estoppel based upon your reasonable reliance on his promise to pay until you graduate.