It looks like it's that time of the year again...
Okay so I actually did get into my dream college off a crapshoot ED to Cooper Union (if you're a senior right now and are considering this school should you have heard of it I highly suggest you apply since the tuition costs are still going to be covered) but yeah getting into your first-choice school is always an awesome feeling.
This being said, you definitely should NOT feel bad if you don't get into your first choice. This is why you apply to multiple colleges. You shouldn't be shooting too high since you'll tend to get your hopes up for a college you have no shot at, but at the same time you don't shoot too low so you don't sell yourself short.
I think that you should never feel too down about yourself if you don't get into the college of your dreams. You worked hard and you know it, so just being considered for a slot should be enough. You have to tell yourself, "I know I worked hard and I really wanted to go to college X, but just because I might not have gotten in doesn't mean that I won't have an awesome time at college Y".
To whomever it may concern, please realize that getting into your dream college isn't the end of the world for you and you should simply forget about it at your new college. I'm sure you're going to have just as much fun and forget about the colleges that didn't take you in.
Unless your username is V0x because he sucks j/s
Pernicious, you go to Stuy, don't you? :3
EDIT: I ask this because 1/9 of my graduating class (of engineers, that is) went to Stuy XD