Congrats!
I take a less optimistic route than girlathehelm, but this is because I am a super cautious person by nature and I do not leave things to chance.
Consider options. If this is THE perfect program that will get you into a fully funded PhD program, then it will be time to step back and figure out how you will be able to manage going there. FinAid has a loan calculator that might be helpful: http://www.finaid.org/calculators/
If this is a program of mediocre sense, this is what I feel: grad school will always be there. Taking a year off to build a stronger application will, in my opinion, be more worthwhile. You will gain experience, but without the debt.
What might help is to look further into the curriculum, the placement of recent grads, and also how helpful the dept is in helping you secure external funding.
Good luck!