I'm in the exact same position. I'm freaking out but my parents keep reassuring me that it's going to be expensive and scary no matter where I end up (my IS rejected me, lolz) and that I need to wait until I even have choices to make between schools before I worry about whether a difference in price is worth the difference in quality. Does that make sense? I have a proclivity for run-ons...
Edinburgh is my top choice, but I'm not taking the $220,000+ it will set me back lightly. All of my loans will be through FAFSA, so they will be unsubsidized and even more terrifying. I'm trying to rationalize the expenditure with all the opportunities Edinburgh will give me and with all of the once-in-a-lifetime opportunities I will have over there such as travel and just new experiences and world views. I might even end up staying in the UK after I graduate, who knows!
Anyway, I've been talking to my dad a lot who just recently graduated from a private law school and is now a practicing attorney about taking out loans, and how he financed and is now paying back the cost of his education. My dad's a very practical guy, and very financially savvy, so I was surprised when he told me I just needed to suck it up, take out whatever loans I needed to take out, and not worry about them until I was able to do something about it. Sure, the first few years I'm out of school I'm going to be living in a cheap-@$$ flat and eating spaghetti 6 out of 7 nights a week, but I know it will be worth it if that's the route I have to or want to take.
I'm still waiting on 4 schools though, not that any of them are much less expensive (Oregon is the cheapest at $180,000), but if any of them take me, I'll start considering differences in money and whether the more expensive schools really have that much more to offer.
Sorry for the rant! Hopefully just knowing you're not alone helps a little though! I can't tell you how many COA spreadsheets I've made...
, I'd go in a second! 
