Legal trouble?

I'm a dental student who did something pretty stupid a few years back regarding collecting money from a company that our group, while fundraising, wasn't TECHNICALLY entitled to. Anyway, I received a letter in the mail regarding this situation the other day. I thought it was LONG over. I'm dying here because dental school is REALLY hard to get into and if you get into legal trouble, you are good as gone since it is such an ethical field. I don't feel I deserve this for something I did so long ago but I'm freaking out. I'm 60K in debt with student loans. I need suggestions, please?