@caitlincc I’ve read of students regretting making expensive decisions for college and ending up in debt. I have also heard students say they were sorry they couldn’t afford the schools of their dreams. The latter group has regrets and some thoughts of what “might have been”. The former group has a millstone of debt that they drag with them every step of the way through their 20s and often into their 30s. Will you regret not going to your top schools? Maybe. Will you regret taking on huge student debt - almost certainly.
That said, I would follow up with the schools and ask how much aid will be taken away when you are the only child in college. They should be able to give you an idea of how your aid will change if you express that it’s a critical part of your decision-making process.
Just so you know - lots of kids who worked hard to get into exclusive private schools decide to enroll instead at less expensive institutions. I would definitely not frame that decision as “I worked for it and I deserve a better school”. Money doesn’t work like that. Getting yourself into deep debt isn’t something you “deserve”. There’s a trade off to be made - fit of school vs expense/debt. You and your folks are the only ones who can truly say which option tips the scales.