When I called about "wait list" situations, they said it was a good sign. They will give you a chance at an interview eventually if you are wait listed for interview and still interested. No rejection letter, is NOT a rejection. I hope that this help give you some hope. Once you have the interview and you get a wait list, it is even better, you will get admitted to a later class if a spot doesn't come up for the term you applied for.
Think of it as extra time to save money. I am in the process of figuring out how to move to San Marcos and stressing the money, it is EXPENSIVE! I wish I was more prepared financially! Figure $500 deposit, $500 health insurance, $1500+ moving cost, $housing deposit and rent, $living expense before school starts. AND financial aid checks don't get cut until AFTER you start class... So have a $chunk$ in your pocket before even starting class to fulfill the above req's.
Another heads up. 99% of graduate loans (beyond federal aid) will need a co-signer. My folks are already helping my little brother so I am stuck looking for friend or relative that is willing to bog down credit until 12 months post-graduation for me.