The HOPE scholarship, if you're referring to the one in Georgia (http://en.wikipedia.org/wiki/HOPE_Scholarship) is still alive. I went to school, getting full tuition plus a book and fee stipend for my undergraduate degree. Eligibility became more difficult sometime after I graduated, but it's still around.

That can't be it; there's nothing in there about repayment or treating the loan as equity rather than debt.