You can only act on what you know. You seem to have learned a lot since applications went out. I’d figure out what you can pay per year (remembering you’ll get less aid with only one in college) and make sure your child knows if the ED package comes in over that you’ll have to turn it down. If the RD packages are also unaffordable, your child doesn’t have to accept those either. She can take a gap year and apply to schools that offer guaranteed merit.