“… If you do get accepted into a college you applied ED, you are bound by an honor code to attend. Remember, you, your parents and even your guidance counselor signed a contract that stated if you were accepted into the college, you would enroll. However, while you did sign an agreement, it is not legally binding, and there will be no legal ramifications if you do reject the offer. The college cannot force you to attend or hold you legally responsible for the tuition and fees associated with attending. If you do decide to reject the offer due to financial reasons, you won’t have to pay a deposit or owe the college any money. No ED “rules” or honor code is broken, and you are free to attend another college.” …
https://www.forbes.com/sites/kristenmoon/2018/12/14/can-students-get-out-of-ed/#60aad5b2584d