At this point in time, I feel like this course of action makes the most sense.
If you haven't heard back from a school yet, you've either been waitlisted or rejected. Even if you get off of a waitlist (which is even less likely in the middle of a recession), the likelihood of being provided substantial funding at the Master's level will be really low.
In the case that you've been accepted to a program and heard nothing about scholarships yet, you probably have not been prioritized for funding and should just move forward with accepting an offer at the most affordable institution.