Heres how we handled it in my household:
1- You get to have a 5 minute Pity Party.
2- Forgive yourself for falling into the mania that is " I need to go to MIT"
3- Go do some physical demanding exercise that will drain you of any emotions- elation, sorrow, self-loathing, etc.
4- Begin the next step of your life as you would if you got into MIT- doing the best you can, enjoying what you have
If you are lucky, one day you will be looking to hire someone to work for you, and you will come across an applicant with an MIT degree… Then you can extract your revenge…