Most places will not take you if you failed fundamentals. It may sound harsh, but it is the reality. If you like the program, I say return to the program in the Fall. If it is a ASN program, if you plan on going back fir your BSN, you can take courses towards the BSN as a PP stated. Otherwise, take the time to rest, brush up on learning what study habits work for you, work and save up cash if you can in order to be in a position to survive financially while focusing on school.
(HUGS)...I was in the same position as you were in...I was 19, at a community college, and terrible test anxiety. I did not return, and most places out right told me I can try to boost my GPA, but chances were I would have a hard time getting into another program with my failing fundamentals. Went to LPN school, worked as a LPN, graduated May 2012, start my new grad job next Monday.
Failure is an experience that you can get back up and dust yourself off and try again!