If you're a current customer, you need to opt-in on Microsoft's website before the end of January or you won't get the free 15GB of storage. A link on the OneDrive page also lets existing users retain the 15GB camera roll bonus for photo storage. (The offer does not apply to new users.)
Microsoft backtracked after it was hit with a wave of bad press, and more significantly, a storm of protest from consumers, who posted more than 70,000 complaints on the OneDrive user forum. Douglas Pearce, a Microsoft program manager, delivered the apology Friday:
However, not all of the recent changes were reversed. "Unlimited" storage plans will still be cut to 1TB next year, but there's a 12-month grace period for people with more than 1TB of data in their accounts. After that year, Microsoft will lock and eventually delete the accounts of users who fail to heed warnings about the quota, and who do not pay for extra storage.
Some of the people most affected by the reduction in overall storage space are likely Office 365 subscribers. If they're unhappy with the new policy, they can request refunds, according to Pearce.
For what it's worth, Microsoft appears to be legitimately contrite: "We are all genuinely sorry for the frustration this decision has caused and for the way it was communicated," wrote Pearce.
If the apology isn't enough for you, here are some other options from Microsoft competitors, along with pricing details: