Weigh your options.
When you were making your college list, you should have been thinking about places you would actually attend if you were admitted. At this point, you want to think about that same thing but within the parameters that the school is giving you. In other words, can you still attend with the financial aid package you were given? Are there other factors that are now influencing your decision that were not as important before? And what items are you prepared to address and what can the school address?
Making this decision is difficult but if you set up everything well before this point, you actually have a decision to make. It is even more difficult when you find yourself in a position of not having options.
I hope that helped! And I hope to see you at my workshop!