Transfer - Changing Mind after Enrollment Commmittment

Situation: A rising sophomore at a 4 year private that has been admitted to another four year private as a transfer student. The only thing signed up for at current school is housing with a minimal deposit. They decide to go through with the transfer and put down the enrollment deposit at new school.

If a week or so later, the student freaks out and decides they really don’t want to transfer, and withdraws their enrollment from new school, I understand they lose the enrollment deposit, but are there any other ramifications? is there any issue being enrolled at two schools for that short time (assuming haven’t made a tuition down payment at either school for sophomore year at this point). I suppose the current school has no idea the student is transferring to new school if a release of records hasn’t been filled out by the student…right? Again, private schools, not state system or anything.

I understand the ethical/inconvenience issue to another student, not asking about that, but am sensitive to it certainly. Just want to know if there is a cushion as I don’t have confidence in student’s decision one way or another at this point. It is emotional decision and they are only given 10 days or so to make up their mind. Very little time to find out if all the kinks can be worked out (housing, etc) as well. Appreciate help, it is really stressful time and student is doing best they can in short window of time.

No, no consequences except loss of deposit.