I was accepted to college last year and decided to defer my acceptance for one year. This year I confirmed that I would still be attending, however I have realized that this decision is not the best for me and I do not want to attend said college anymore. I understand that this is obviously a terrible time to be changing my mind and all that entails, but I still want to know if not attending is possible. If it is, would anyone if there are any fines or similar “punishments” for the process?
There are no fines and no punishments. Just send them a note, thank them for the deferment, and let them know that your plans have changed and that you will not be attending.
Lots of people defer and then have plans change, so it is no surprise when this happens. Some do get into a place they like better (as implied by theanaconda) but others have had other changes in their lives that make them reconsider an earlier plan.