shinigamiasuka

I think we are all self absorbed, on all "sides"
 
Lets all remember that people are people are people.  There are monsters in the world, but lets not create more because we aren't getting our way.   Most people aren't hanging on several acceptances because they want to torture those on the wait list, and the people on the wait list aren't less qualified, and may have the same credentials as those considering multiple acceptances.  It is the luck of the draw. 
 
Those with several acceptances- Be considerate, if you know you aren't going to accept, then tell them so.  Those waiting- be patient and don't create villains where there are none.
 
It is a long and painful process for everyone involved.  Lets not make it more painful by attacking eachother.

seriously? you all got into your "dream school" yet you still drag it out your decision until april 15? so unneccesarily cruel to other applicants. 

You can rescind your acceptance, but it is possible you will burn bridges if done carelessly. Try to be as polite about it as possible. On another thread, user Vene suggested saying 'After reexamining my financial situation I regret to say that I will not be able to attend next year. I am deeply sorry, but I wish to withdraw from your program.' I think this is a good way to put it.
 
I also think rescinding your acceptance and accepting the funded offer is absolutely the right thing to do. Even if the program you withdraw from is a bit annoyed at you, you should not second guess that. I would be surprised if they take it any worse than being somewhat annoyed, if you do it right.

Congrats on getting accepted! I was doing a course only Master's so having an advisor was not required, but the professor I researched for became my advisor (I'm actually going back to him for a PhD this fall). I would contact every EECS professor that is in your area of interest after April 15th to see if they are looking for any Masters students. Ideally you're looking for professors who aren't taking any PhD students the following year and have some funding to take on Master students. Good luck!