Sorry to hear things are so bad. I hope things work out for you this year. My $0.02-not in a real order of priority. Good luck.
1. Declare bankruptcy
2. Get a job. Maintain some form of lifestyle.
3. Apply for the MS program make arrangements to attend.
4. Reapply to dental school
Do not file for bankrupcy; it would be the stupidest decision of your life; think about it. To pay for school you are going to have to take out $150,000+ in loans. Most of that will be in Federal Aid, however if that does not cover it, then you going to have to take out private loans, which will increase your rates because you are a liability. Also, remember that after you graduate you will need to take hundreds of thousands of dollars more in loans for a practice and a house, amongst other things. Now if you in your twenties with $150,000 in school loans and a bankruptcy on your record, what kind of an interest rate are you going to get on any new loans? It is not worth it. What you need to do as far as the money issue goes, is to take out a private loan to pay off your credit card bill. The interest on credit cards is usually 20% where a loan will only be approx. 8.5%. Once you are in dental school take out extra school loans, and pay off the private loan, as it will inevitably have better interest rates. Re-apply if dentistry is what you want to do, but work any job you can in the meantime.
I wondered the same thing.. I worked in a clinical setting for 4 yrs and did research in dentistry.. I came to the conclusion that I was out of state.. and that it was just a numbers game (w/3000 applications who can blame them) they saw the overall and went NEXTTTT.. and didnt look into closely enough to see the trend.