It happens nearly every time there is civil conflict.
One of the more important things that can happen now is for DHS to grant Temporary Protected Status to Libyan students in the US.
Why they haven't done this already, I have no idea. They are actively being lobbied to do so by several professional groups representing university and financial aid professionals. There is no reason for young students to fear being sent back to Libya against their will right now. They have enough to worry about already.
Temporary Protected Status & Deferred Enforced Departure
http://www.uscis.gov/portal/site/uscis/menuitem.eb1d4c2a3e5b9ac89243c6a7543f6d1a/?vgnextoid=390d3e4d77d73210VgnVCM100000082ca60aRCRD&vgnextchannel=390d3e4d77d73210VgnVCM100000082ca60aRCRDThere is no single solution in the US dealing with the financial aid problem. The student visas limit their ability to work. Each university deals with these situations differently, some with grants, some with loans and deferred payments. Again, it's likely there would be knowledgeable staff at hand, especially on a large campus.
IIRC, the Transitional National Council has said the student aid programs would be continued (and even expanded), but they have their hands full now as well. There was some talk of using part of their recent loans to cover students abroad, but that was two or three weeks ago and I know of nothing further.
For anyone interested in a longer term solution, there are actually groups of activists trying to solve the problem of the corrupt use of national wealth as a personal piggy bank by dictators. For every one of them, there are 50 or so on K Street trying to keep the status quo. It's not likely anyone will see results in the next three-day news cycle, but if their efforts can be supported a 20-year timeline is not out of the question.
If anyone knows of a Libyan student who is having a problem, please PM and I'll see if I can put them in contact with someone who can help.