I'm taking a year off before appying, so my opinion might not be worth as much as some other people's on this site. That being said, you're right that you probably don't have much of a chance of being accepted with that low of a score. I don't know how to "back out" of the application process, but I would probably give up applying this cycle and wait for next year. However, DON'T GIVE UP! There are several people on this site that have raised their MCAT scores from low 20's to low/mid 30's. It might be worthwhile to do a search for those threads (something like "raised MCAT score" and see what they did to improve their scores so drastically.
You will have to change your studying methods the next time you study. It's evident from your high GPA that you're smart, so it's probably your studying method that's the problem. If you have the money to take a course, take one. Regardless, go over ALL of your material again and make sure you know it. Take notes on all the chapters. Make flash cards for Orgo. Memorize and know all the physics equations. Make flash cards or vocab lists of the biological systems. Make sure you understand relationships for General Chemistry.
Near the end of your reviewing start taking full length exams. A lot of them. The AAMC website offers 9, I believe. If you're on a budget, order at least the most recent ones (the most recent are the most updated and therefore the most helpful). After you've taken the exam, review where you went wrong. I made a list of all the questions I got wrong, and what the correct answers were. By making a list, you can identify which questions you continually are missing. Then, go back and re-read the material for the sections you got wrong if you still don't understand it or didn't know the answer. If your problem is simply that you're not finishing in time, taking practice tests within time constraints will help.
Finally, whatever study method you have, branch out. Browse through books from Princeton Review, Kaplan, ExamKrackers, or Gold Standard and buy the ones you think could help you, in addition to your main studying method. For example, I studied with ExamKrackers, but found a Kaplan Book ($30 at Barnes and Noble) with 2 computer-based tests to be very helpful. I also bought a seperate book to help with the Writing section.
It sucks that you didn't get the score you wanted to. But study hard and re-take the exam only when you're positive that you can improve by at least 5 points or more. The normal amount of time people spend studying is at least 10 weeks. You should be studying at least 2-3 hours a day, 5 or 6 days a week. If you're still in school, it's definitely more difficult to study, but you can make time. In that case, I'd block out at least 14 weeks to study because there are just some days you won't be able to study. Make sure you have covered all the material 2 weeks before you exam. By the final week before the exam, you should know where your weaknesses are and focus your attention on those areas. I received a 33 on the exam by studying this way, so I hope my experiences can help you. Good luck!
