Under no circumstances are you settling at UT Austin. I am from the east coast and even I know that is a good school. If you have sent a deposit in, then put Rice out of your mind. You will do great no matter where you go!
There is a saying here on CC: “Bloom where you are planted.” Take advantage of all the classes and professors and clubs that UT has to offer…and learn the traditions and such and have a blast! Make those friends! Be a Bevo and be proud.